At Tuesday's City Council meeting Mayor Tom Henry's office proposed a Revolving Loan Fund that gives the Mayor's office and the City Controller Pat Roller the ability to access up to 5 million dollars from the city's legacy fund in case of an emergency.
Roller said, "This reserve, this revolver, would give me at least some access to additional dollars if something were to happen that as unanticipated."
In a 7 to 2 vote the ordinance did not pass through the City Council. John Perlich, Public Information Officer for Mayor Henry says he's shocked they denied the Mayor's request.
Perlich said, "We were surprised that this was not approved tonight we'll continue to be discussed."
The money would have been used as an insurance fund, in case weather strikes and money is needed quickly to use in snow removal like we had this past winter. Or in the severe weather months with tornado relief similiar to what we saw in Kokomo in November.
Tom smith, 1st District Councilman, feels very strongly about not passing this ordinance.
Smith said, "That is was too broad, way too loosy goosey for me I do not agree with that at all."
Perlich believes that in the next few months the Mayor's office will present a new ordinance, with different language, in the hopes that the council will reconsider it's decision.
He said, "We'll go back to the drawing board and look at other mechanisms we could put in place to move forward."
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.