A RESOLUTION NOT TO SPEND EDIT FUNDS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2016

A RESOLUTION NOT TO SPEND EDIT FUNDS
FOR THE FISCAL YEAR ENDING DECEMBER 31, 2016

Resolution No. 7 of 2016

WHEREAS, the Town Council of the Town of Winamac (the “Council”) had previously agreed to make an irrevocable donation of funds in the amount of One Hundred and Fifty Thousand Dollars ($150,000.00) to the Winamac Pool Committee (the “Committee”), for use in the design, construction, and maintenance of a town pool; and

WHEREAS, pursuant to Ind. Code § 6-3.5-7-12.7, the Council may, at any time, transfer to its general fund, money that has been deposited in the economic development income tax fund (the “EDIT fund”) established by the Town of Winamac (the “Town); and 

WHEREAS, only Seventy-Five Thousand Dollars ($75,000.00) has been appropriated for expenditure from the EDIT fund in 2016; and 

WHEREAS, after further consideration, the Council believes it to be in the best interests of the Town to authorize said transfer for 2017, and to prohibit the expenditure of the allotted Seventy Five Thousand Dollars ($75,000.00) in 2016, to alleviate the need for application for an additional appropriation from the Department of Local Government Finance. 

NOW, THEREFORE, BE IT ORDAINED by the Town Council of the Town of Winamac, Indiana, that this Resolution Not to Spend EDIT Funds For the Fiscal Year Ending December 31, 2016, is adopted as follows:

SECTION I.

Directive 

1. No Expenditure. Be it now resolved that the Town Council, Town officers, and employees, are directed not to spend the allotted Seventy-Five Thousand Dollars ($75,000.00) in EDIT funds received for 2016, in the year 2016, further arrangements for said funds to be made by resolution or ordinance at a later point in time. Said funds are to be retained and held in the EDIT fund. 

SECTION III.

Effective Date

1. Effective Date. This Resolution shall become effective thirty (30) days after notice of the adoption shall have been published in a paper as described in Indiana Code § 5-3-1-4. 

PASSED AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF WINAMAC, INDIANA, THIS 11th DAY OF JULY, 2016. 

THE WINAMAC, INDIANA TOWN COUNCIL 

Dan Vanaman, Council Member 

Tom J. Murray, Council Vice-President

Judy Heater, Council Member

Jim Watkins, Council Member

ATTEST: Melanie A. Berger, Clerk-Treasurer

133-16 G 07/20