Continuation of the Cumulative Sewer Building and Sinking Fund

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Patrick M. McMahon, P.E. Director, Public Works Members of the 441 County /City South Bend, IN CITY of SOUTH BEND ROGER O. PARENT, Mayor COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601 June 13, 1980 Common Council Building 46601 RE: Continuation of.the Cumulative Sewer Building and Sinking Fund Dear Council Members: Attached you will find an ordinance providing for the continuation of the Cumulative Sewer Building and Sinking Fund, and establish- ing a tax levy not to exceed one dollar ($1.00) annually for a period of 12 years. As you may be aware, the City adopted Ordinance No. 5043 -68 creat- ing a Cumulative Sewer Building and Sinking Fund in 1968. The ordinance by its terms and pursuant to Statute became effective for the tax year 1968, payable 1969, and extended for twelve years through 1979, payable 1980. Since Ordinance No. 5043 -68 expires this year, the City has chosen to reestablish the fund in order to make moneys available to provide for an efficient sewage system for the City of South Bend. While the attached ordinance provides for a tax levy not to exceed one dollar ($1.00), we do not anticipate an increase from the present rate due to the frozen tax levy estab- lished by the State of Indiana. (219) 284 -9251 Your favorable consideration is requested. If you should have any questions regarding this proposal, please contact me at your earliest convenience. Ver truly your , atrick M. McMahon, P.E. Director Attachment