Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues

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for the purchase of the major portion thereof and has re- ceived bids for the construction of said facilities after published notice as required by law, and the cost thereof, including all incidental expenses necessary to be incurred in connection therewith and in connection with the issuance of bonds on account thereof, will be in the amount of Three Million Six Hundred Thousand Dollars ($3,600,000); that said Board has requested the Common Council to authorize the issu- ance of revenue bonds for that purpose under the provisions of Chapter 190 of the Acts of the Indiana General Assembly for the year 1955; and WHEREAS, the Council finds that all conditions preced- ent to the adoption of an ordinance authorizing the issuance of revenue bonds to provide the necessary funds to pay the cost of said off - street parking facilities have been complied with in accordance with the provisions of the governing stat- utes; now therefore, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: Section 1. The Board of Public Works and Safety be, and it is hereby, authorized and directed to proceed with the pur- chase and construction of the off - street parking facilities which shall be designated on the books of the City as "Off - Street Parking Project 1969" (sometimes herein referred to as "Project 1969 "). Said facilities so designated shall include the following described lands: Site I located at the Southeast Corner of Colfax and Main Streets in the City of South Bend, Indi- ana, more particularly Lots 22, 23 and 24 as shown on the recorded original plat of the Town, now City, of South Bend; - 3 -