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WHEREAS, 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 $9,500, 000 in the City's General Fund <br /> on or before December 30, 1988, which amount will equal or exceed the <br /> principal and interest cost of making a temporary loan for the Gene- <br /> ral Fund; and <br /> WHEREAS, the Controller has represented and the Common Council <br /> now finds that there will be insufficient funds in the Park Main- <br /> tenance Fund to meet the current expenses of the City payable from <br /> such Fund prior to the distribution of taxes levied for such Fund on <br /> or before December 30, 1988, and hereby authorizes the making of a <br /> temporary loan to procure the funds necessary, in combination with <br /> other available funds, to meet such current expenses for such Fund <br /> for such period and to pay the necessary costs in connection with the <br /> issuance and sale of tax anticipation time warrants to evidence such <br /> temporary loan; and <br /> WHEREAS, the Common Council now finds that a temporary loan for <br /> the Park Maintenance 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 />