Loading...
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 All prior ordinances or parts thereof inconsistent with any provision of this Ordinance are hereby repealed as of the effective date of this Ordinance.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. 1 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 2