Appropriating the proceeds from the issuance of bonds to be issued and designated as Series 2001D to rehab Bosch

Home Browse Search

The Project and the financing by the City of the Project, together with expenses incidental thereto, are necessary and will be of general benefit to the City and its citizens. The City has insufficient funds available or provided for in the existing budgets or tax levies that maybe applied to the costs of the Project, together with expenses incidental thereto, including expenses in connection with the issuance of the bonds. The issuance of such bonds of the City, in an amount not to exceed Five Hundred Ten Thousand and 00/100 Dollars ($510,000.00), to finance the costs of the Project, together with expenses incidental thereto, including expenses in connection with the issuance of said bonds, has been heretofore authorized to procure the necessary funds and an extraordinary emergency and necessity exist for the making of the additional appropriation set out herein. The proceeds of such bonds of the City have not been included in any regular budget. Notice of a hearing on such appropriation has been published as required by law and such public hearing was held on such appropriation at which all taxpayers and interested persons had an opportunity to appear and express their views as to such additional appropriation. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: SECTION 1. The proceeds derived from the issuance of the bond heretofore authorized to be issued and designated as "City of South Bend, Indiana, Revenue Bond, Series 2001D (Robert Bosch Corporation Project)," in an aggregate principal amount not to exceed Five Hundred Ten Thousand and 00/100 Dollars ($510,000.00), shall be and the same are hereby appropriated to provide financing for the acquisition costs of the Project including the reimbursement of the City for acquisition costs heretofore incurred, together with expenses -2- ::ODMAUvi~IODMA~SBIMAN 1;103505;2