Authorizing Tax Anticipation Time Warrents for 1992

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REQUEST TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA TO MAKE A TEMPORARY LOAN FOR THE PURPOSES OF MEETING THE CURRENT EXPENSES OF THE GENERAL. FUND I, Katherine Humphreys, the duly appointed and acting Controller of the City of South Bend, Indiana (the "City" ) , in my capacity as chief fiscal officer of the City, do hereby certify as follows: 1. During the period from January 1, 1992 through December 31, 1992, there will not be sufficient funds in the City's General Fund to meet current and accruing expenses chargeable against such Fund prior to the distribution of tax funds to such Fund on or before December 31, 1992. 2. Temporary loans in an aggregate amount not less than the following amount, made in anticipation of current tax revenues of the City that have been levied and are in the. course of collection for such Fund for. the 1992 fiscal year, are required pursuant to the provisions of I.C. 36-4-6-20 in order to meet the current and accruing expenses chargeable. against such Fund.: General Fund -- $5,500,000.00 3 . As chief fiscal officer responsible for administering the City' s General. Fund, I hereby agree and covenant, with. respect to the proceeds of temporary loans made to or for the benefit of such Fund, not to take any action or to fail to take any action with respect to such proceeds or the interest earnings thereon that would result in constituting the warrants evidencing such loans as "arbitrage bonds" under the Internal. Revenue Code of 1986, as amended, or would otherwise cause the interest on the warrants to cease to be excludable from gross income for purposes of Federal. income taxation. IN WITNESS WHEREOF, I have executed this Request to the Common Council of the City of South Bend as o : the 8th day of January, 1992. Ka erine Hum p' .,eys Co troller, City of South Bend C:REQ-LOAN