HomeMy WebLinkAboutD-2115-12 Amend 2-110 Rainy Day Fund #912SPONSOR(s): Councilor(s) Schleif, Seidensticker
and Snyder
ORDINANCE D- 2115 -12
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA, AMENDING CHAPTER 2, ARTICLE 4, SECTION 2 -110
(RAINY DAY FUND #912) OF THE CARMEL CITY CODE
WHEREAS, Indiana Code IC 36- 1 -8 -5.1 pen-nits a political subdivision to establish a
"Rainy Day Fund "; and
WHEREAS, it is in the public interest to establish and make available to the City a
Rainy Day Fund; and
WHEREAS, the City of Carmel Common Council desires to amend such a Fund.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
Carmel, Indiana, as follows:
Section I: The foregoing Recitals are fully incorporated herein by this reference.
Section II: Chapter 2, Article 4, Section 2 -110 of the Carmel City Code is hereby
amended and shall read as follows:
"Sec. 2 -110 The City of Carmel Rainy Day Fund #912.
a. The Fund shall consist of unused and unencumbered balances or
any other funding source approved by IC 36- 1 -8 -5.
b. The monies transferred by the City into the Fund shall not exceed
ten percent (10 %) of the City's total annual budget for that fiscal
year.
c. All monies transferred by the City to or from the Fund shall be
transferred pursuant to a Common Council resolution to be made
at any time during the year."
Section III. All prior ordinances or parts thereof inconsistent with any provision of this
Ordinance are hereby repealed as of the effective date of this Ordinance.
Section IV. If any portion of this Ordinance is for any reason declared to be
unconstitutional or invalid, such decision shall not affect the validity of the remaining portions of
this Ordinance so long as enforcement of same can be given the same effect.
Section V. This Ordinance shall be in full force and effect from and after its passage and
signing by the Mayor and such publication as is required by law.
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ADOPTED by the Common Council of the City of Carmel, Indiana, this ICt 'day of
V\\0 -u.eAN , 2012, by a vote of -7 ayes and
nays.
faM_MON COUNCIL FOR THE CITY OF 'A' L, IND OPP
914sidinig acer
Richard L. harp,
onald E. Carter
sident Pro Tempore
evin D. Rider
Carol Schleif , V
///,/
W. Eric Seide sticker
-C/
Diana L. Cordray, IAMC, Clerk -Tr asarer
Luci yder
Presented by me to the Mayor of the City of Carmel, Indiana, on the tq day of
� rte , 2012, at 7. Lf— P.
Diana L. Cordray, IAMC, Clerk- Treas4er
Approved by me, the Mayor of the City of Catiriel, Indiana, this a day of
,2012 co_ %;`tS p -M,
Jar7es Brainard, Mayor
Diana L. Cordray, IAMC, Clerk -Trea 'surer
PREPARED BY:
Diana L. Cordray
Clerk - Treasurer
City of Carmel
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