Authorizing Temporary Loans for the General Fund the Issuance and Sale of Warrants

Home Browse Search

For the payment of said warrants and interest thereon, there is hereby appropriated and pledged a suggested amount of the current revenues of the City to be derived from the General Fund tax levy collectable in the year 1970. The Controller and Treasurer are hereby authorized and directed to pay said warrants out of said taxes upon the presentation thereof, at or after maturity. Section 2. Said warrants shall be signed by the Mayor, countersigned by the Controller, and the Seal of the City shall be affixed thereto and on said warrants and inter- est to the day of maturity shall be added and included in the face value thereof, and indicate the fund on account of which said warrant is issued and out of which said warrant is payable. Said following form, to delivery: NO. warrants shall be issued in substantially the all blanks to be properly filled in prior STATE OF INDIANA COUNTY OF ST. JOSEPH CITY OF SOUTH BEND, INDIANA Temporary Loan Warrant (General Fund) $ For value received, the City of South Bend, in St. Joseph County, Indiana, will pay to the bearer hereof, being , $ on or before 19 , at the office of the City Treasurer in said City upon presentation and surrender of this warrant. This warrant evidences a temporary loan to the City together with interest on the principal amount of said loan not in excess of 6% per annum, computed from the date of issuance to the date of maturity thereof. This warrant is one of an issue in an aggregation of $ authorized by an ordinance entitled "An Ordinance of the City of South Bend, Indiana, authorizing the making of a temporary loan for the General Fund and the issuance and sale of warrants of the City for such purpose ", duly passed and adopted by the Common Council of said City, on the day of , 19 , and in strict accord- ance with an act entitled "An Act Concerning Municipal Corp- orations", in force April 15, 1905, and all other acts amend- atory thereof or supplemental thereto, for the purpose of procuring a temporary loan for the General Fund of said City. This warrant is issued in anticipation of the tax levy made for said General Fund, collectable in the year 19 , which tax levy is now in the course of collection; and, to the payment of the warrant and the interest hereon, a suf- ficient amount of the revenues to be derived from said tax levy has been and is hereby appropriated and pledged.