Ordinance 08-2023 Appropriating Mones on Deposit in The Riverboat Fund

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ORDINANCE NO. 8-2023 ORDINANCE OF MOORESVILLE TOWN COUNCIL APPROPRIATING MONIES ON DEPOSIT IN THE RIVERBOAT FUND 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 Council President (the "Executive") is the Executive of the Town; WHEREAS, the Mooresville Town Council (the "Council") is the fiscal body of the Town; WHEREAS, the Council has determined that it is necessary to appropriate dollars on deposit in the Riverboat Reserve Fund 2235 into the Riverboat -Other Capital 2235001432.000 to pay for infrastructure improvements to the Town's sidewalks and easements on Monroe Street; WHEREAS, the Executive has recommended the Council appropriate Two Hundred and Fifty Thousand Dollars ($250,000.00) of the dollars on deposit in the Riverboat Reserve Fund 2235 to the Riverboat -Other Capital 2235001432.000 for the purpose outlined here; WHEREAS, the additional appropriation of such unobligated funds will not increase the Town's tax levy set in accordance with Ind. Code 6-1.1-17; WHEREAS, the Town has caused notice of a hearing on said appropriation to be published as required by law; and WHEREAS, the public hearing was held on July 18, 2023 at 6:30 p.m., at Mooresville Town Hall, Mooresville, Indiana, concerning said appropriation at which time all taxpayers and interested persons had an opportunity to appear and express their views as to such additional appropriation; NOW, THEREFORE, BE IT RESOLVED BY THE MOORESVILLE TOWN COUNCIL, AS FOLLOWS: 1. The expenditure of Two Hundred and Fifty Thousand Dollars ($250,000.00) of dollars on deposit in the Riverboat Reserve Fund 2235 to the Riverboat -Other Capital 2235001432.000 is hereby approved and appropriated by the Council for the purpose of funding the infrastructure improvements to the Town's sidewalks and easements on Monroe Street, which funds are not provided for in the existing budget and tax levy. 2. Such appropriation shall be in addition to all appropriations provided for in the existing budget and levy and shall continue in effect until the completion of the activities described above. Any surplus of such proceeds (including investment earnings thereon) shallbe credited to the proper fund as provided by law.