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FILED IN CLERK'S OFFICE <br />JAN 4 1968 <br />KATHRYN L. BLOUGH <br />CITY CiERK, SOUTH BEND, IND. <br />ORDINANCE NO. 4966 -68 <br />AN ORDINANCE AUTHORIZING A TEMPORARY LOAN FROM THE WASTE WATER <br />TREATMENT PLANT TO THE SOUTH BEND PUBLIC TRANSPORTATION <br />CORPORATION IN AN AMOUNT NOT TO EXCEED 96150,000.00,AS Alff <br />WHEREAS, the South Bend Public Transportation Corporation is <br />in need of funds for current operating expenses, which expenses must be <br />met prior to the receipt of taxes in the year 1968, and <br />WHEREAS, the South Bend Public Transportation Corporation <br />has adopted a resolution requesting a loan from the Waste Water Treat- <br />ment Plant of the City of South Bend in an amount not to exceed <br />$150,000.00, and <br />WHEREAS, the Board of Commissioners of the Waste Water <br />Treatment Plant has adopted a resolution approving such loan to the <br />South Bend Public Transportation Corporation, and <br />WHEREAS, such loan shall be repaid to the Waste Water Treat- <br />ment Plant by the South Band Public Transportation Corporation from the <br />qr rgvenu �a + <br />collection of taxes/ ee- yea —=- �e- in 1968, and <br />WHEREAS, such temporary loan is authorized by the provisions <br />of Burns Indiana Statutes annotated, at Sections 48 -7230 and 48 -8824, <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA: <br />Section 1. That a temporary loan in an amount not to exceed <br />$150,000.00 be made for and on behalf of the South Bend Public Trans- <br />portation Corporation from the Waste Water Treatment Plant of the City <br />of South Bend, and all the proceeds of which loan shall be placed in the <br />operating fund of the South Bend Public Transportation Corporation and <br />shall be used for the purpose of meeting current expenses of the South <br />Bend Public Transportation Corporation included in the regular budget <br />and appropriations adopted for the year 1968, which expenditures must be <br />made prior to the receipt of taxes in the year 1968.:. <br />Said temporary loan shall be without interest and repaid by <br />the South Bend Public Transportation Corporation to the Waste Water <br />Treatment Plant of the City of South Bend on or before December 30, 1968, <br />from the collection of taxes or revenues to be Tevis in the year 1968. <br />- 1 - <br />