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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 <br />prior to the receipt of taxes in the year 1965. It will be necessary <br />to authorize and to mace a temporary loan for the General Fund in the <br />amount not exceeding $700,000,00, and I recommend that a temporary loan <br />be authorized for the General Fund in the amount not to exceed $700,000.00, <br />and that the warrants evidencing said loan be made payable on or before <br />June 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 day of February, 1965. <br />SMA <br />CITff CONTROLLER <br />f i�.E:SY 6 G�L' YS�� iiS'i'JE <br />F .- , <br />KATHRYN L. PLOUGH <br />CITY CLERK, SOUTH BEND, IND. <br />