Laserfiche WebLink
ORDINANCE NO. '7 % 6 L - -X/, 5 <br />An Ordinance of the City of South Bend, Indiana <br />authorizing the issuance and sale of bonds of said <br />City in order to provide funds for the acquisition <br />of land as a site or sites for, and the construction, <br />furnishing and equipment of, a building or buildings <br />as a centralized city facility to house various <br />departments, offices and branches of city government <br />and also to provide for the housing and maintenance <br />of city equipment of the City of South Bend, Indiana; <br />together with the incidental expenses to be incurred <br />in connection therewith. <br />WHEREAS, the Board of Public Works and Safety of the City of South Bend, <br />Indiana has found that it would be for the best interests of said City and its <br />citizens to provide funds for the acquisition of land as a site or sites for, and <br />the construction, furnishing and equipment of, a building or buildings as a <br />centralized city facility to house various departments, offices and branches of <br />city government and also to provide for the housing and maintenance of city <br />equipment of the City of South Bend, Indiana; together with the incidental <br />expenses in connection with the foregoing and on account of the issuance of bonds <br />therefor; and has determined that the estimated cost thereof and the incidental <br />expenses necessary to be incurred in connection therewith, including the issuance <br />of bonds, will be in the approximate amount of ONE MILLION FIVE HUNDRED THOUSAND <br />DOLLARS ($1,500,000); and <br />WHEREAS, the Board of Public Works and Safety has filed a request for <br />an appropriation in the amount of ONE MILLION FIVE HUNDRED THOUSAND DOLLARS <br />($1,500,000) for said purposes, which request has been approved by the City <br />Controller with the recommendation that the funds necessary to cover such <br />appropriation be obtained by the issuance and sale of general obligation bonds <br />of the City; and <br />WHEREAS, a petition has been filed under the provisions of Chapter 119 <br />of the Acts of 1937, as amended, by more than fifty (50) owners of taxable real <br />estate in the City of South Bend, Indiana requesting the Common Council to issue <br />bonds in an amount not exceeding ONE MILLION FIVE HUNDRED THOUSAND DOLLARS <br />($1,500,000) for the purpose of procuring funds to be applied on the cost of the <br />projects hereinbefore described; and <br />-1- <br />