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,.....w <br />- ..:_._. .�. �Ad00 '. AdOD <br />f AJOJ�" <br />AdU7 r <br />1111311 <br />_,,, <br />. .. ,., w+..��a*ws.r:4.s', <br />Ol13X ..r..'r.....»c «..w ....,..s....u...,, sr. ».,... .. <br />, .. .::i:::..t:::«w..tixwa.u.ti+. +;tea.•. @rA1.4..'rw02f3X <br />1+++ idsL'. w+ 1cx, r. �. av4 .:a.Yw#+.Ww.''✓nai4i�.�a�.k <br />_ <br />' <br />WHEREAS, the Commission finds that in order to provide <br />funds <br />for the payment of part of the costs of such Project, it <br />will <br />be necessary to issue bonds of the Redevelopment District <br />III <br />the amount of Six Hundred Eighty Thousand Dollars ($680,000); <br />now <br />therefore, <br />BE IT RESOLVED, by the South Bend Redevelopment Commission <br />that: <br />1. For the purpose of providing fun. ds to be used in <br />P <br />ying the acquisition, clearance, rehabilitation, site improvement, <br />and <br />renewal of property described in Resolution No. 118 and <br />incidental <br />costs necessary to be incurred in carrying out said <br />Project, <br />the City of South Bend, acting for and on behalf of <br />the <br />South Bend Redevelopment District, shall make a loan in the <br />amount <br />of Six Hundred Eighty Thousand Dollars ($6800000). In <br />order <br />to- procure said loan, the City Controller is hereby <br />authorized <br />and directed to have prepared and to issue and sell <br />he negotiable bonds of the City, payable solely out of a special <br />ax to be levied on all property within said District, to be <br />esignated as "Redevelopment District Bonds of 1966," in the <br />ggregate principal amount of Six Hundred Eighty Thousand Dollars <br />$680,000, which bonds shall be issued in the denomination of <br />Five <br />Thousand Dollars ($5,000.00), shall be numbered consecutively <br />rom 1 to 136, shall be dated as of the first day of the month <br />n which such bonds are sold, and shall bear interest at a rate <br />of exceeding five per cent (5%) per annum, (the exact rate or <br />- <br />ates to be determined by bidding), which interest shall be payable <br />krr� <br />.Crl <br />X Rd� <br />yK <br />' r nol, <br />` -�n Y, <br />