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9589-05 Authorizing Controller and Mayor to make temporary loans to meet current running expenses of various funds of current taxes levied in 2004, collectable in 2005
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9589-05 Authorizing Controller and Mayor to make temporary loans to meet current running expenses of various funds of current taxes levied in 2004, collectable in 2005
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Last modified
12/13/2010 10:30:34 AM
Creation date
2/19/2008 3:36:16 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/9/2005
Ord-Res Number
9589-05
Bill Number
24-05
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IN WITNESS WHEREOF, the City of South Bend, in the County of St. Joseph, State of Indiana, has <br />caused this Warrant to be executed in its corporate name by the Mayor of the City of South Bend, Indiana, countersigned <br />by the City Controller of the City of South Bend, Indiana, and its corporate seal to be hereunto affixed and attested by <br />the City Clerk of the City of South Bend, Indiana, all as of the day of , 2005. <br />BY: <br />(SEAL) <br />ATTEST: <br />John Voorde <br />CITY OF SOUTH BEND, INDIANA <br />Stephen J. Luecke, Mayor <br />COUNTERSIGNED: <br />M. Catherine Fanello, Controller <br />[End of form of Warrant] <br />Section VII. The City Controller is hereby authorized and directed to have the Warrants <br />prepared, and the Mayor, the City Controller, and the City Clerk are hereby authorized and directed <br />to execute all Warrants in the manner and substantially the form provided in this Ordinance. <br />Section VIII. The City Controller is hereby authorized to deliver the Warrants to the <br />Purchaser, upon receipt from the Purchaser of payment in accordance with the terms of the Warrant <br />Purchase Agreement. <br />Section IX. The City Controller and other appropriate officers of the City are hereby <br />authorized and directed to make such filings and requests, deliver such certifications, execute and <br />deliver such documents and instruments, and otherwise take such actions as are necessary or <br />appropriate to carry out the terms and conditions of this Ordinance and the actions authorized hereby <br />and thereby. <br />Section X. The City hereby covenants that the City and its officers shall not take any action <br />of fail to take any action with respect to the proceeds of any of the Warrants or any investment <br />earnings thereon which would result in constitution any of the Warrants as "arbitrage bonds" under <br />the Code and any and all final or proposed regulations or rulings applicable thereto, or which would <br />otherwise cause the interest on any of the Warrants to cease to be excludable from gross income for <br />purposes of federal income taxation; and the City Controller and all other appropriate officers are <br />hereby authorized and directed to take any and all actions and to make and deliver any and all <br />reports, filings, and certifications as may be necessary or appropriate to evidence, establish, or ensure <br />
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