Authorizing Issurance and Sale of Warrants $3,852,674.50

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TO THE COMON COUNCIL OF THE CITY OF SOUTH BEND There are insufficient funds in the General Fund of the City to meet operating needs which were included in the regular budget and appropriation adopted for the year 1964, which are required to be net prior to the receipt of taxes in the year 1964. It will be necessary to authorize and to make a temporary loan for the General Fund in the amount not exceeding $700,000.00, and I recommend that a temporary loan be authorized for the General Fund in the amount not to exceed $700,000.00, and that the warrants evidencing said loan be made payable on or before December 31, 1964. The net assessed valuation of taxable property in the City, as shown by the assessment made for City and County taxes in the year 1963, is in the amount of $232,789,560.00. The tax levy made for the General Fund for the year 1964 was $1.655 on each $100.00 taxable valuation, and I estimate that the total amount to be received from such tax levy will be approximately $3,852,674.50. Dated this 23rd day of September, 1964. 7 City Controller