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Authorizing the making of a Temporary Loan for the General Fund Issuance and Sale of Warrants
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Authorizing the making of a Temporary Loan for the General Fund Issuance and Sale of Warrants
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/30/1962
Ord-Res Number
4495-62
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the date of maturity shall be added to and included in the face value thereof, <br />indicate the fund on account of which said warrant is issued and out of which <br />said warrant is payable. <br />Said warrants shall be issued in substantially the following form, all <br />blanks to be properly filled in before delivery: <br />NO. <br />STATE OF INDIANA <br />OOUNTY OF Sr. JOSEPH <br />CITY OF SOUTH BEND, INDIANA.. <br />TEMPORARY LOAN WARRANT <br />(GENERAL FUND) <br />For Value Received, the City of South Bend, in St. Joseph County, <br />Indiana, will pay to the bearer hereof, $ on or before November <br />13, 1962 at the office of the City Treasurer in said City upon presentation <br />and surrender of this warrant. This warrant evidences a temporary loan to the <br />City, together with interest on the principal amount of said loan not in <br />excess of three per cent per annum, computed from the date of issuance <br />to the date of maturity thereof. <br />This warrant is one of an issue aggregation of $ author- <br />ized by an ordinance entitled "An Ordinance of the City of South Bend, <br />Indiana, authorizing the making of a temporary loan for the General Fund <br />and the issuance and sale of warrants of the City for such purpose ", duly <br />passed and adopted by the Common Council of said City, on the <br />day of , 1962, and in strict accordance with an act entitled <br />"An Act concerning Municipal Corporations," in force April 15, 1905, and <br />all other acts amendatory thereof or supplemental thereto, for the purpose <br />of procuring a temporary loan for the General Fund of said City. <br />This warrant is issued in anticipation of the tax levy made for said <br />General Fund, collectible in the year 1962, which tax levy is now in course <br />of collection and to the payment of this warrant, and the interest hereon a <br />sufficient amount of the revenues to be derived from said tax levy has been <br />and is hereby appropriated and pledged. <br />It is hereby certified that in the issuance of this warrant all provisions <br />of the constitution and statutes of the State of Indiana relating thereto have <br />been complied with, and that the tax levy from the proceeds of which this <br />warrant and the interest hereon is payable, is a valid and legal levy, and <br />that the City will reserve a sufficient amount of the proceeds thereof for <br />the payment of this warrant and the interest hereon. <br />-3- <br />
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