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BILL NO. <br /> ORDINANCE NO. "/?7- 9 <br /> AN ORDINANCE APPROPRIATING $50,000 FROM THE ECONOMIC <br /> DEVELOPMENT STATE GRANT FUND FOR THE PURPOSE OP PUNDING AN <br /> ENTERPRISE DEVELOPMENT FUND <br /> Statement of Purpose and Intent: <br /> The government of the City of South Bend, in partnership with <br /> the City's private sector and residents, is committed to the goal <br /> of improving the "quality of life" in the City, its neighborhoods, <br /> and for its residents. As part of this commitment to a <br /> comprehensive community development and improvement program, the <br /> City of South Bend through its Department of Economic Development <br /> wishes to help in the establishment of an Enterprise Development <br /> Fund. The fund will be used to make loans to non-traditional <br /> entrepreneurs. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the <br /> City of South Bend, Indiana, as follows: <br /> SECTION I. The sum of $50,000 is hereby appropriated from the <br /> City of South Bend's Economic Development State Grant Fund to be <br /> used to help establish an Enterprise Development Fund which will <br /> make loans to non-traditional entrepreneurs. <br /> SECTION II. This Ordinance shall be in full force and effect <br /> from and after its passage by the Common Council and approval by <br /> the Mayor. <br /> / <br /> ember NIVhe Common Council <br /> Aer <br />