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BILL NO. <br /> ORDINANCE NO. k'a33-S t <br /> AN ORDINANCE APPROPRIATING $450, 000 <br /> OF SECTION 108 FUNDS, PLUS INTEREST EARNED THEREON, <br /> FOR USE IN WEST WASHINGTON-CHAPIN DEVELOPMENT AREA <br /> STATEMENT OF PURPOSE AND INTENT: <br /> In order to assure the efficient and timely utilization of Section <br /> 108 funds and that the immediate needs of specific activities are met, <br /> appropriation of funds is necessary. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of <br /> South Bend, Indiana, as follows: <br /> SECTION I. The sum of $450, 000 of Section 108 loan funds, plus <br /> interest earned on such funds, is hereby appropriated for use in <br /> housing rehabilitation, acquisition, relocation, and demolition in the <br /> West Washington-Chapin Development Area. <br /> SECTION II. No costs will be incurred or funds expended for any of <br /> the activities addressed in this ordinance prior to an official release <br /> of funds received from the United States Department of Housing and <br /> Urban Development. <br /> SECTION III. This Ordinance shall be in full force and effect from <br /> and after its passage by the Common Council and approval by the Mayor. <br /> Memb-r/.f the Common Council <br />