Laserfiche WebLink
ORDINANCE NO. 4'+ 4 <br />o —' , <br />AN ORDINANCE OF THE CITY OF SOUTH BEND, <br />INDIANA, AUTHORIZING THE MAKING OF A <br />TEMPORARY LOAN FOR THE GENERAL FUND <br />AND THE ISSUANCE AND SALE OF WARRANTS <br />OF THE CITY FOR SUCH PURPOSE. <br />WHEREAS, the Common Council now finds that a necessity exists <br />to provide funds for the General Fund of the City of South Bend, prior to <br />the receipt of taxes in the year 1962, in order to meet the current running <br />expenses of the City, provided for in the budget and appropriations adopted <br />for the year 1962, which expenses must be met prior to the receipt of taxes <br />in the year 1962; and <br />WHEREAS, the Common Council now finds that the net assessed <br />valuation of taxable property in the City, as shown by the assessment made <br />for City and County taxes in the year 1961 is in the amount of Two Hundred <br />Twenty -six Million, Five Hundred Seventeen Thousand Four Hundred Ten <br />($226, 517. 410. 00) Dollars; that the levy made for the General Fund of this <br />City for the collection in the year 1962 is in the amount of $2. 803 on each <br />One Hundred ($100. 00) Dollars of taxable valuation, which levy is estimated <br />to produce the sum of Two Million, Two Hundred Sixty -five Thousand, One <br />Hundred Seventy -four ($2, 265, 174. 00) Dollars, and the Controller has pre- <br />sented to the Council his recommendation that a temporary loan be made for <br />the General Fund in the amount, and subject to the terms hereinafter set <br />forth; now, therefore, <br />