HomeMy Public PortalAbout1141-1937 - Authorizing the Controller to reduce the Depreciation Power Plant to account to $500,000.00 and transfer the remaining balance to the Power Plant General Fund 7,1 7i I ,1 r-7
OZDINA TC a NO //e -19937
AN O'DINANCE AU`ffORIZING THE CITY CONTROLLER OF RICH ,MOND,
INDIANA, TO REDUCE THE DEPRECIATION RESERVE FUND OF THE
MCIICIPAL 'LECTRI C LICHTING AND PG,71E R ' COT:T ANY OF SAID
CITY, TO TT1-E AnUNT OF FIVE h NDFED THOUSAND DOLLARS,
500,000.00). , AND TO . TRANSFER THE BALANCE OF SAID FUND,
AND ALL INTEREST F ?OT THE 'SECURITIES IN. THIS FUND, TO
TEE CNTERAL FUND OF THE SAID r.'.;U ?ICIP&L ir,LECTRIC LIGHTING-
AND PO ER PLANT.
I7HER LEAS, The,,L'unicipal Electric Lighting and Power of
- the City of . Richmond, Indiana', has complied with the
order of the State Board of Accounts, in building up
the Depreciation ?deserve Fund of siad plant, said order
being .dated ,August 16, 1934, . NOW THEREFORE,
Section. 1. BE IT ORDAINED by. the Common Council of the
�,�; City of Richmond, Indiana,, that the City
Controller of said City; be and the same
is. hereby authorized to tranfer any sum over
and above Five Hundred Thousand (.1500. 000.'00 )
Dollars out of the Depreciation Reserve
Fund'. of said Municipal Electric and Lighting
Plant , to -ether with all interest which is
now accrued or may accrue in the future from.
securities held in this ,.fund, to the Genera-1
Fund of the said T;Tunicipal Electric Lighting
and Power Plant of said City.
Section 2. ' This ordinance shall be in full force and
effect from and after its passage and the
approval of the Mayor-.
'Passed by the Common Council of the City of Richmond,
Indiana; this. 02/(1 day. of � v , 1937..
.Approved and signed by me this o ,Js' day. ofvr� , , 1937.
Attest : Mayor.
•
ity- Clerk. _