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TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND <br />There are insufficient funds in the General Fund of the City to <br />meet operating needs which were included in the regular budget and <br />appropriation adopted for the year 1965, which are required to be met prior <br />to the receipt of taxes in the year 1965. It will be necessary to authorize <br />and to make a temporary loan for the General Fund in the amount not exceeding <br />$700,000.00, and I recommend that a temporary loan be authorized for the <br />General Fund in the amount not to exceed $700,000.00, and that the warrants <br />evidencing said loan be made payable on or before December 30, 1965. <br />The net assessed valuation of taxable property in the City, as shown <br />by the assessment made for City and County taxes in the year 1964, is in <br />the amount of $231,820,380.00. The tax levy made for the General Fund <br />for the year 1965 was $1.753 on each $100.00 taxable valuation, and I <br />estimate that the total amount to be received from such tax levy will be <br />approximately $4,063,811.26. <br />Dated this 2/ day of ` 1965. <br />CONTROLLER <br />SEP 2 1 '65 AM <br />F I L E D <br />4WTY OF SOUTH BEND <br />MTHRYN L. BLOUGH, CL&W <br />