Authorizing the Making of a Temporary Loan for the General Fund & Issuance and Sale of Warrants

Home Browse Search

the date of maturity shall be added to and included in the face value thereof, indicate the fund on account of which said warrant is issued and out of which said warrant is payable. Said warrants shall be issued in substantially the following form, all blanks to be properly filled in before delivery NO. STATE OF INDIANA COUNTY OF ST. JOSEPH CITY OF SOUTH BEND, INDIANA TEMPORARY LOAN WARRANT (GENERAL FUND) For Value Received, the City of South Bend, in St. Joseph County, Indiana, will pay to the bearer hereof, $ on_.Juge15, 1962 at the office of the City Treasurer in said City upon presentation and sur- render of this warrant. This warrant evidences a temporary loan to the City, together with interest on the principal amount of said loan not in excess of three per cent per annum, computed from the date of issuance to the date of maturity thereof. This warrant is one of an issue aggregation of $ author- ized by an ordinance entitled "An Ordinance of the City of South Bend, Indiana, authorizing the making of a temporary loan for the General Fund and the issuance and sale of warrants of the City for such purpose ", duly passed and adopted by the Common Council of said City, on the day of , 1962, and in strict accordance with an act entitled 'An Act concerning Municipal Corporations, " in force April 15, 1905, and all other acts amendatory thereof or supplemental thereto, for the purpose of procuring a temporary loan for the General Fund of said City. This warrant is issued in anticipation of the tax levy made for said General Fund, collectible in the year 1962, which tax levy is now in course of collection and to the payment of this warrant, and the interest hereon a sufficient amount of the revenues to be derived from said tax levy has been and is hereby appropriated and pledged. It is hereby certified that in the issuance of this warrant all provisions of the constitution and statutes of the State of Indiana relating thereto have been complied with, and that the tax levy from the proceeds of which this warrant and the interest hereon is payable, is a valid and legallevy, and that the City will reserve a sufficient amount of the proceeds thereof for the payment of this warrant and the interest hereon. -3-