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HomeMy Public PortalAbout00412 O R D I N A N C E NO. 412 AN ORDINANCE, creating an administrative special fund to be known as the Subdistrict Planning Fund and transferring thereto the balance in money and in recoverable expenditures not reimbursed held in the Improvement Fund for reimbursable expenses of subdistrict sewer and drainage improvements, together with all appurtenant accounts in the Improvement Fund, effective June 30, 1960 and prior to the close of the fiscal year ending that date. WHEREAS, by Resolution No. 243 the Board of Trustees determined that the accounting for the District advancements for the preliminary expenses of subdistrict sewer and drainage improvements should be segregated for administrative purposes from the General Fund and directed that such accounts be transferred from the General Fund to the Improvement Fund, and WHEREAS, by Ordinances 298 and 297, money was transferred from the General Fund to the Improvement Fund and appropriations were made from the Improvement Fund for the purpose of making such advancements, and WHEREAS, said transfer of accounts has not provided sufficient segregation of such advancements from the other operations of the District, and further segregation for administrative purposes has been recommended to the Board of Trustees. Ord. No. 412 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT: Section One. The assets held in the Improvement Fund in the form of money and of recoverable expenditures not reimbursed, for the reimbursable expenses of subdistrict sewer and drainage improvements are hereby transferred and set over to an administrative special fund hereby created and to be known as the "Subdistrict Planning Fund". Section Two. Concurrently with the transfer made in Section One, all accounts appurtenant to such assets and to the accounting for advancements for reimbursable subdistrict expenditures, shall be and they hereby are transferred from the Improvement Fund to the Subdistrict Planning Fund. Section Three. This ordinance, being for administrative purposes, shall take effect on the 30th day of June, 1960 just prior to the closing of the fiscal year ending on that date. The foregoing Ordinance was adopted on June 16, 1960. -2-