HomeMy WebLinkAboutCC-02-17-03-01 TOF/Rainy DaySponsor: Councilor Koven
RESOLUTION NO. CC-02-17-03-01
(Formerly Resolution No. CC-02-03-03-01)
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 $1,432,626.68 in its 2002 budget;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Carmel, Indiana, that:
Section 1: As the fiscal body of the City of Carmel, the Common Council of the City of
Carmel, hereby orders, pursuant to Indiana Code 36-1-8-5, the transfer of $900,000 of the unused
and unencumbered balance of the general fund from the 2002 City of Cannel budget, to the rainy
day fund of the City of Carmel budget, 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
Carmel, hereby orders, pursuant to Indiana Code 36-1-8-5, all remaining unused and
unencumbered balances of funds from the 2002 City of Carmel budget, other than the transfer
referred to in Section 1 of 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.
PASSED by the Common Council of the City of Carmel, Indiana, this /'7~day of
rr"cltlg~tt.ttt/O~/~ ~ ,2003, byavoteof ~O ayesand 0 nayes.
D:kFileskResolutions\2003\CC-02-17-03-01.doc
Sponsor: Councilor Koven
(--dE~der, P~esl~tent ~ Tempore ~9:aK~' K°ven~
ATTEST:
Diana L. Cordray, IAMC, Clerk-Trea~d
L~ PXl:sented by me to the Mayor of the City of Carmel, Indiana this /_~ day of
~' -.P~ , 2003, at .~
Dian~ L. Cordray, I~C, Cler~asurer
Approved by me, Mayor of the City of Ca~el, Indi~a, this// day of~[J ~003,
at 7~ ~M. /f ~ ~ .
~or James Brhnard
ATTEST:
Diana L. Cordray, I~ViC, Clerk-T~asurer
Prepared by:
Sue A. Beesley
Bingham McHale LLP
2700 Market Tower
10 W. Market Street
Indianapolis, IN 46204
D :WilesLResolutions\2003\CC-02-17-03-01.doc