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• <br /> BILL NO. <br /> ORDINANCE NO. 2 97.2-9 <br /> AN ORDINANCE APPROPRIATING $37,500 FROM THE ECONOMIC DEVELOPMENT STATE <br /> GRANT FUND FOR THE PURPOSE OF FUNDING A MICROLOAN PROGRAM <br /> Statement of Purpose and Intent: <br /> The government of the City of South Bend, in partnership with the City's private sector and <br /> residents, is committed to the goal of improving the "quality of life" in the City, its neighborhoods, and <br /> for its residents. As part of this commitment to a comprehensive community development and <br /> improvement program, the City of South Bend , through it Department of Community & Economic <br /> Development wishes to help in the establishment of a Microloan Program. The fund will be used to <br /> make loans to non-traditional entrepreneurs. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, <br /> Indiana, as follows: <br /> SECTION I. The sum of $37,500 is hereby appropriated from the City of South Bend's <br /> Economic Development State Grant Fund (Fund 210) to be used to help establish a Microloan Program. <br /> SECTION II. This Ordinance shall be in full force and effect from and after its passage by the <br /> Common Council and approval by the Mayor. <br /> fdige /, <br /> Me I of the Common /17 it <br />