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'"4010kREAS, the Common Council now finds that a temporary loan for <br /> the General Fund for such purposes should be made and that such tax <br /> anticipation time warrants should be issued and sold, subject to the <br /> terms and conditions set forth herein and all in accordance with the <br /> provisions of Indiana law; and <br /> WHEREAS, the levy proposed for collection in the year 1988 is <br /> estimated to produce at least $9,800, 000 in the City's General Fund <br /> at the June 30, 1988, final settlement and distribution of taxes, <br /> which amount will equal or exceed the principal and interest cost of <br /> making a temporary loan for the General Fund; and <br /> WHEREAS, the Controller has represented and the Common Council <br /> now finds that there will be insufficient funds in the Park District <br /> Bond Fund to meet the current expenses of the City payable from such <br /> Fund prior to the final June 30, 1988, distribution of taxes levied <br /> for such Fund and hereby authorizes the making of a temporary loan to <br /> procure the funds necessary, in combination with other available <br /> funds, to meet such current expenses for such Fund for such period <br /> and to pay the necessary costs in connection with the issuance and <br /> sale of tax anticipation time warrants to evidence such temporary <br /> loan; and <br /> WHEREAS, the Common Council now finds that a temporary loan for <br /> the Park District Bond Fund for such purposes should be made and that <br /> such tax anticipation time warrants should be issued and sold, sub- <br /> ject to the terms and conditions set forth herein and all in accor- <br /> dance with the provisions of Indiana law; and <br /> -2- <br />