Concerning Construction and the Installation of Extensions, Additions and Improvements to the Waterworks

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ORDINANCE NO. 4801 -65 An Ordinance concerning construction and the installation of extensions, additions and improvements to the waterworks owned and operated by the City of South Bend, Indiana; authorizing the issuance of revenue bonds to provide for the cost thereof, and matters connected therewith. WHEREAS, the City of South Bend is 'the comer of and operates an unencumbered waterworks furnishing the public mater supply to said City and its inhabitants; and WHEREAS, the Board of Public Works and Safety, having the management of said waterworks, has determined, and the Common Council now finds, that said waterworks is in need of certain construction and the installation of extensions, additions and improvements in order to adequately serve the inhabitants of the City and in order to protect properly the health, well -being and property of 'the City and its inhabitants; and WHEREAS, the Board of Public Works and Safety has employed Clyde E. Williams S Associates, Inc., Professional Engineers, of South Bend, Indiana to determine construction, installation of extensions, additions and improvements required, and the cost thereof, and has found from bids received and from the advice of said engineers -that 'the cost -thereof will be in the amount of One Million Eight Hundred Ninety -five Thousand Dollars ($1,595,000.00), including all incidental expenses necessary to be incurred in connection therewith and in connection with the issuance of bonds on account thereof, and has represented -to the Council, and the Council now finds, that, subject to the approval of the Public Service Commission of Indiana, funds for said projects may be provided by the issuance and sale of revenue bonds payable solely out of the revenues of said waterworks and not constituting a general obligation of the City; and WHEREAS, the Council finds that the City noow has outstanding certain Waterwor]<s Revenue Bonds of 1960, payable from the revenues of the waterworks, in the amount of One Million Two Hundred Seventy Thousand Dollars ($1,270,000.00) authorized by Ordinance No. 4321 -60 adopted May 23, 1960, as amended by Ordinance No. 4346 -60 adopted November 2, 1960, constituting a first charge upon a fixed -I-