Resolution 32-2023 Approving a Transfer of Funds Between the Motor Vehicle Highway Restricted Fund #2203 and the Local Road and Bridge Matching Grant Fund #4500

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RESOLUTION 32-2023 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF MOORESVILLE, INDIANA APPROVING A TRANSFER OF FUNDS BETWEEN THE MOTOR VEHICLE HIGHWAY RESTRICTED FUND #2203 AND THE LOCAL ROAD AND BRIDGE MATCHING GRANT FUND #4500 WHEREAS, the Town of Mooresville (the "Town') is a municipality organized and existing entity under the provisions of Ind. Code 36-5-1; WHEREAS, the Town received funds from the INDOT Community Crossings Grant ("Grant") requiring local matching money in the amount of Two Hundred Fifty Six Thousand Forty Four Dollars and Sixteen Cents ($256,044.16), and said funds were deposited into the Motor Vehicle Highway Restricted Fund #2203 ("MVH Restricted Fund"); and WHEREAS, pursuant to the provisions set forth in Ind. Code 36-1-8-12, the Town created a special fund named the Local Road and Bridge Matching Grant Fund #4500 ("Local Road and Bridge Matching Grant Fund") in order to deposit grant money and matching money; and WHEREAS, in furtherance of Ind. Code 36-1-8-12, in order to use the grant proceeds for their intended purposes, the matching funds that were deposited into the MVH Restricted Fund must be transferred into Local Road and Bridge Matching Grant Fund. NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Mooresville, that the Clerk- Treasurer is authorized to transfer funds between the MVH Restricted Fund and the Local Road and Bridge Matching Grant Fund as follows: $256,044.16 from the MVH Restricted Fund (#2203) TO Local Road and Bridge Matching Grant Fund (44500) $256,044.16