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9764-07 Authorizing the Mayor and Controller to Issue Temporary Loans 2006 - 2007
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9764-07 Authorizing the Mayor and Controller to Issue Temporary Loans 2006 - 2007
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Last modified
9/24/2009 3:34:13 PM
Creation date
10/2/2007 9:36:04 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/11/2007
Ord-Res Number
9764-07
Bill Number
34-07
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TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: <br />Your Committee of the Whole, to whom was referred: <br />BILL NO. <br />34-07 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA, AUTHORIZING THE MAYOR AND/OR CONTROLLER OF <br />THE CITY OF SOUTH BEND, INDIANA, TO MAKE TEMPORARY <br />LOANS TO MEET CURRENT OPERATING EXPENSES OF VARIOUS <br />FUNDS OF THE CITY IN ANTICIPATION OF AND NOT IN EXCESS OF <br />CURRENT TAXES LEVIED IN THE YEAR 2006, AND COLLECTABLE <br />IN THE YEAR 2007, AUTHORIZING THE ISSUANCE OF TEMPORARY <br />LOAN TAX ANTICIPATION TIME WARRANTS TO EVIDENCE SUCH <br />LOANS AND THE SALE OF SUCH WARRANTS AND <br />APPROPRIATING AND PLEDGING THE TAXES TO BE RECEIVED IN <br />SUCH FUNDS TO THE PAYMENT OF SUCH WARRANTS INCLUDING <br />THE INTEREST THEREON <br />Respectfully report that they have examined the matter and that in their opinion, this bill is <br />being recommended to the full Council with a favorable recommendation. <br />Ann Puzzello <br />Acting Chairperson <br />
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