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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 />April 4, 1978 <br />Mr. Roger 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 $88,000.00 from <br />interest earned on Certificate of Deposits 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 $88,000.00 <br />in interest. <br />If the ordinance is approved,,. much of the funds would be used for paving, <br />coati mundi exhibit, lighting and change orders that always occur in <br />large construction projects. <br />The Park Board feels the approval of this ordinance is very important <br />and urges the Common Council to give their favorable approval. <br />Very truly yours, <br />DEP MENT OF P C ARKS <br />3 es R. Seitz, <br />perintendent <br />JRS:kb <br />