HomeMy Public PortalAbout1996-14® RESOLUTION NO. 1996-14
A RESOLUTION AUTHORIZING TEMPORARY TRANSFER
OF INDUSTRIAL DEVELOPMENT FUNDS
(Funding for Park -Pool Bonds pending Tax Distribution)
WHEREAS, the Property Tax Distribution for 1996 (1995 payable 1996) will not be
available until late August or September, 1996; and
WHEREAS, the City of Greencastle has an obligation to pay interest and principal on
the 1988 Park -Pool Bond issue prior to July 1st 1996 in the amount of $44,271.88; and,
WHEREAS, The Greencastle Citizens Advisory Commission for Industrial Development,
pursuant to I. C. 36- 7- 13 -6(c), will on June 13, 1996, consider the request to transfer such funds
in support of the City Financial requirements.
NOW THEREFORE BE IT RESOLVED, that the Greencastle Common Council
authorize the transfer of $44,271.88 from Industrial Development Funds for payment of Park -
Pool Bond interest and principal due prior to July 1, 1996, such sums to be repaid upon
Property Tax Distribution upon receipt. No interest will be paid.
® PASSED AND RESOLVED by the Common Council of the City of Greencastle at its
regular meeting this 11th day of June, 1996.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Thomas W. Roach
Mack N. Hammer'
Ki Green
Lea j C ltus*',
David Masten
Barry B hard
Approved and signed by me this 11th day of June, 1996, o'clock.m.
EST: Nancy A. M hael, Mayor
Pamela S. Jones, Clerk asurer
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