TOWN OF WOLCOTT, WHITE COUNTY, INDIANA
ORDINANCE NO. 2017-03
AN ORDINANCE TO TRANSFER PRESCRIBED AMOUNT TO FUND IN NEED OF MONEY FOR CASH FLOW PURPOSES
WHEREAS, Indiana Code Section 36-1-8-4 Permits the transfer of a prescribed amount, for a prescribed period, to a fund in need of money for cash flow purposes from another fund of the political subdivision if the Council finds it necessary to borrow money to enhance a fund that is in need of money for cash flow purposes
WHEREAS, the Town of Wolcott desires to transfer funds from the Town’s “Cumulative Capital Development Fund” to the department of Park and Recreation Fund to ensure adequate funding for maintenance and repair of the Town’s Park and Recreational areas.
WHEREAS, the Town desires to transfer said funds as follows:
1. Twelve thousand dollars ($12,000.00) from CCD/Other Capital Outlays, Account #402001441.000 to Park and Recreation/Repairs and Maintenance, Account #204001361.000 for repairs and maintenance improvements.
2. Three thousand dollars ($3,000.00) from the CCD/Sidewalks and Curbs, Account #402001441.011 to Park and Recreation/Other Capital Outlays, Account #204001441.012 for playground equipment.
3. Three thousand dollars ($3,000.00) from CCD Other Capital Outlays, Account #402001441.000 to Park and Recreation/Professional Services, Account #204001315.000 for professional services.
WHEREAS, in conformance with I.C. 36-1-8-4 (3), the Town shall transfer all funds under this ordinance back to their original account prior to December 31, 2017 unless the town shall obtain an emergency six (6) month extension as permitted under I.C. 36-1-8-4.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF WOLCOTT, INDIANA:
Section 1. The above recitations are adopted by the Town Council; and
It is further ordered and determined that the town of Wolcott hereby adopts and approves the transfer of funds as outlined in this ordinance.
Section 2. This ordinance shall be in full force and effect on February ____, 2017.
Passed and adopted by the Town Council of the Town of Wolcott, Indiana on the ___ day of February, 2017.
COUNCIL OF TOWN OF WOLCOTT
Aye Nay
___________________________________
Michael A. Yelton Council President Michael A Yelton, Council President
Fred A. Young, Council Vice President Fred A. Young, Council Vice President
Tina M. Orns, Council Member Tina M. Orns, Council Member
Michael J. Johnson, Council Member Michael J. Johnson, Council Member
Council Member Council Member
ATTEST:
Tammy L. Seward, Clerk-Treasurer