HomeMy Public PortalAbout02754 O R D I N A N C E NO. 2754
AN ORDINANCE, transferring Forty-eight Thousand Five
Hundred Ninety-three Dollars ($48,593.00) from the unappropriated
surplus of the General Fund of the Mississippi River Subdistrict,
Four Thousand Five Hundred Sixty Dollars ($4,560.00) from the
unappropriated surplus of the Coldwater Creek Sewer Revenue Fund,
and One Hundred Seventy Dollars ($170.00) from the unappropriated
surplus of Sugar Creek Operating Fund to the General Fund of the
District; and appropriating Fifty-five Thousand Dollars
($55,000.00) from the unappropriated surplus of the General Fund
of the District, to the Secretary-Treasurer's Department, to pay
for the three-year insurance premium on the District's property
insurance, after a credit for the unearned premium on the current
policy.
WHEREAS, by Ordinance No. 2690, adopted October 23,
1974, the District had renewed a property insurance contract with,
primarily, the Allendale Insurance Company, which company is also
the primary carrier for the successful low bidders on the new
policy; and
WHEREAS, there is a credit given for the unearned
premiums of One Hundred Eighteen Thousand Six Hundred Forty-three
Dollars ($118,643.00), to be applied to the gross premium of One
Hundred Seventy Thousand Four Hundred Ninety-one Dollars
($170,491.00), for the new insurance policy, leaving approximately
Fifty-one Thousand Eight Hundred Forty-eight Dollars ($51,848.00)
(rounded upwards to Fifty-five Thousand Dollars) ($55,000.00),
additional sum needed for the prepaid three-year premium.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The sum of Forty-eight Thousand Five
Hundred Ninety-three Dollars ($48,593.00) is hereby transferred
from the unappropriated surplus of the General Fund of the
Mississippi River Subdistrict to the General Fund of the District.
Section Two. The sum of Four Thousand Five Hundred
Sixty Dollars ($4,560.00) is hereby transferred from the
unappropriated surplus of the Coldwater Creek Sewer Revenue Fund
to the General Fund of the District.
Section Three. The sum of One Hundred Seventy Dollars
($170.00) is hereby transferred from the unappropriated surplus of
the Sugar Creek Operating Fund to the General Fund of the
District.
Section Four. The sum of Fifty-five Thousand Dollars
($55,000.00) is hereby appropriated from the unappropriated
surplus of the General Fund of the District to the Secretary-
Treasurer's Department to be used to pay for the three-year
insurance premium on the District's property insurance.
Section Five. This Ordinance, being an appropriation
Ordinance, shall take effect immediately upon its enactment.
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The foregoing Ordinance was adopted February 12, 1975.