Laserfiche WebLink
�'or tho purpose of proViding tunda to bo u004 <br />' in <br />yang the acquisition, clearance, rehabilitation, site <br />improvement <br />and renewal of property described in Resolutions ; <br />530 <br />118 and 200, and .incidental costs necessary to be incurred) , <br />in <br />arrying out said Projects, the City of South Bend, acting <br />for <br />and on behalf of the South Bend Redevelopment District, <br />shall <br />make a loan in the amount of Eight hundred seventy <br />thousand <br />Dollars:'($870,000). In order to procure said loan, <br />the <br />City Contrdller is hereby authorized and directed to have <br />pre <br />red and tb'issue and sell the negotiable bonds of the <br />City" <br />payable - solely out of a special tax to be levied on <br />all <br />property)within: said District, to be designated as <br />` "Redevelopment <br />District Bonds of 1968" in the aggregate x <br />' pri <br />cipal amo�}r}t of Eight hundred-seventy thousand Dollars <br />t <br />t ; ($8.70, <br />which bonds shall be issued in the denomination f <br />of <br />One thousand Dollars ($1,000), shall be numbered con - <br />i <br />sec <br />tively from l to 870, shall be dated as of the first <br />day <br />of the month in which such bonds are sold, and shall <br />interest at a rate not exceeding five percent i• <br />per <br />annum (the exact rate or rates to be determined by <br />:bid <br />SO <br />ing) , which interest shall be payable on the first f <br />f <br />day <br />t <br />of January, 1969, and semi - annually thereafter on <br />L <br />January <br />1 and July 1 of.each year, and shall be evidenced <br />I by <br />coupons attached to said bonds. Both bonds and interest <br />i coupons <br />shall be payable in lawful money of the United States ; <br />� <br />1 <br />• t { i <br />of <br />1 s' <br />hmerica at the .St. Joseph Bank and Trust Company, " South <br />Be <br />Indiana n +j Said bonds shall mature as follows: <br />, <br />$87,000 on each January 1 in <br />4 <br />the years, 1970 to 1979 inclusive. <br />1 <br />P,7;7,77 <br />