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Department of Public Parks <br />Administration Building <br />St. Louis Boulevard at Wayne Street <br />South Bend, Indiana 46617 <br />PHONE: (219) 284 -9401 <br />October 1, 1979 <br />Mr. Roger 0. Parent, President <br />South Bend Common Council <br />County -City Building <br />227 West Jefferson Boulevard <br />South Bend, Indiana <br />Dear Mr. Parent: <br />The Department of Public Parks is requesting the Common Council to <br />give favorable action on an ordinance appropriating $17,000.00 from <br />interest earned on Certificates of Deposit from the proceeds of the <br />1977 Park District Bond Issue ($2,170,000.00). <br />Because of higher than anticipated.bids received on the zoo projects, <br />some exhibits and other work had to be deleted to keep the cost below <br />the bond limit. <br />The park staff and controller's office worked out a cash flow plan and <br />invested idle funds in certificates of deposit thus earning approxi- <br />mately $153,000.00 in interest. The Council has already approved <br />appropriations of $136,000.00 in interest earnings to the Park District <br />Bond Construction Fund 50. Since the last appropriation, the Park De- <br />partment has earned an additional $17,000.00 and we are requesting the <br />Council to appropriate the $17,000.00 to the Park District Construction <br />Fund 50. <br />If the ordinance is approved, much of the funds would be used for paving <br />at Potawatomi, erection of a physical fitness course at Paul F. Boehm <br />Park and landscaping for Boehm Park. <br />The Park Board feels the approval of this ordinance is very important and <br />urges the Common Council to give their favorable approval. <br />Very truly yours, <br />DEPTMENT OF I PARKS <br />James R. Seitz <br />JRS . .kb S� ( perintendent, <br />