HomeMy WebLinkAboutCC-02-04-02-01 Rainy Day FundSponsor: Councilor Koven
RESOLUTION NO. CC-02-04-02-01
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA, TRANSFERRING UNUSED AND UNENCUMBERED FUNDS
TO THE RAINY DAY FUND
WHEREAS, Indiana Code 36-1-8-5.1 allows political subdivisions to establish a Rainy
Day Fund to receive transfers of unused and unencumbered funds; and,
WHEREAS, the Common Council of the City of Carmel established a Rainy Day Fund
for the City of Carmel pursuant to Ordinance No. D-1535-01; and,
WHEREAS, Indiana Code 36-1~8-5 provides that whenever the purposes of a tax levy
have been fulfilled and an unused and unencumbered balance remains in a fund, the fiscal body
of the political subdivision shall order the balance of that fund to be transferred to the General
Fund or Rainy Day Fund of the municipality; and,
WHEREAS, the City of Carmel has determined that it has an unused and unencumbered
balance of $2,495,237.21 in its 2001 budget;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Carreel, Indiana, that:
Section 1: As the fiscal body of the City of Carmel, the Common Council of the City of
Carreel, hereby orders, pursuant to Indiana Code 36-1-8-5, the transfer of $500,000 of the unused
and unencumbered balances of funds from the 2001 City of Carmel budget, to the Rainy Day
Fund of the City of Carmel budget, for the Street Maintenance Facility, which was established
pursuant to Ordinance No. D-1535-01.
Section 2: As the fiscal body of the City of Carmel, the Common Council of the City of
Cannel, hereby orders, pursuant to Indiana Code 36-1-8-5, all remaining unused and
unencumbered balances of funds from the 2001 City of Carmel budget, other than the transfer
referred to in Section lof this Resolution, to be transferred to or remain in the General Fund of
the City of Carmel budget.
Section 3: This Resolution shall be in full force and effect from the date of passage, and
its publication, as provided by law.
PASSEDbYtheCommonCounciloftheCityofCarmel, Indiana, this~4~ dayof
February, 2002, by a vote of_A_~' ayes and f') nayes.
Diana L. Cordray, IAMC, Clerk-Tre~rer
Presented by me to the Mayor of the City of Carmel, Indiana this i~_ day of February,
2002, at ~; &~ P.M.
Diana L. Cordray, IAMC, Clerk-Tre~rer
Approved by me, Mayor of the City of Carmel, Indiana, this (P day of February, 2002,
at "/:irCP.M. ~
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