Create a Cumulative Sewer Building and Sinking Fund and Providing for a Tax Levy of $.25 Annually for a Period of Twelve Years

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ORDINANCE NO. 5043 -68 AN ORDINANCE TO CREATE A CUMULATIVE SEWER BUILDING AND SINKING FUND TO BE KNOWN AND DESIGNATED AS THE SEWAGE TREATMENT, STORM SEWER AND DISPOSAL PLANT FUND, AND PROVIDING FOR A TAX LEVY OF $.25 ANNUALLY FOR A PERIOD OF TWELVE (12) YEARS, AS AMENDED. BE IT ORDAINED by the Common Council of the City of South Bend: SECTION I. In accordance with the requirements of Section 1 of Chapter 146 of the Acts of the 1967 General Assembly, there is hereby created a special cumulative sewer building and sinking fund to be known as the Sewage Treatment, Storm Sewer and Disposal Plant Fund of South Bend into which the levies for sewer improvements as provided in Chapter 146, Section 1 -5 inclusive, of the Acts of 1967, shall be deposited. Said fund shall be appropriated and used solely for sewer improvements as hereinafter defined and none of such monies shall revert to the general fund or be used for any purposes other than sewer improvements. SECTION II. The term "sewer improvements" means the planning, erection, remodeling and extension or repairing of sewers to convey sanitary sewage or for the construction of storm sewers and the remodeling, repairing or extension of the same, and for relief sewers and drains in aid of the sanitary system or storm sewers or for any or all of the above enumerated municipal undertakings. The term sewer improvement shall not include salaries of any public officials or employees except those which are directly chargeable to a sewer improvement. SECTION III. There is hereby levied for each year commencing 1968, payable in 1969, extending through 1979, payable in 1980, a tax levy to be paid into said fund of the sum of $.25 on each One Hundred (100.00) Dollars of taxable property located within the said City of South Bend, Indiana. SECTION IV. The taxpayers are hereby notified that a public hearing on this proposed ordinance is hereby set for 8:00 o'clock P.M. on the 21st day of October, 1968. SECTION V. This ordinance shall be in full force and effect from and after its passage by the Common Council, its approval by the Mayor and the fulfillment of all statutory requirements. 18t62nd REASiNS 9 -9 -68 COMd1rfTEE OF THE WHOLE PUBLIO HEARING 10 -7 -68, 10 -21 -68 3rd RERDINS 10 -21 -68 NOT APPROVED REFERRED Ordinance Committee 9 -9 -68 PASSED 10 -21 -68 t� Member of the Common Council