Appropriating the sum of $1,000,000.00 Applied to Construction, Reconstruction and Improvement of Streets

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3Cb ORDINANCE NO. v AN ORDINANCE OF THE CITY OF SOUTH BEND, F I L = INDIANA APPROPRIATING THE SUM OF ONE MILLION HiLD of sc8U, :;° DOLLARS ($1, 000, 000, 00) TO BE APPLIED, TO THE _u`�_._ �z`° dOST OF CONSTRUCTION, RE- CONSTRUCTION AND IMPROVEMENT OF STREETS, AND. EXPENSES INCURRED IN CONNECTION THEREWITH. WHEREAS., the Board of Public Works and Safety of the City of South Bend has found that many streets in said city have deteriorated and have become defective to a serious extent; that an emergency exists for the immediate construction, re- construction and improvement of such streets, and that said project is necessary in order to protect the well -being of the citizens of said city, and will be of general benefit to the entire city; and WHEREAS, the Board of Public Works and Safety has determined that the estimated cost of said project, and the incidental expenses necessary to be incurred in connection therewith, including the issuance of bonds, will be in the approximate amount of One Million Dollars ($1, 000, 000. 00), and has filed a request for an appropriation in said amount for said purpose, which request has been approved by the City Controller, with the recommendation that the funds necessary to cover such appropriation be obtained by the issuance and sale of general obligation bonds of the city; and WHEREAS, the Council now finds that the construction, rerconstruction and improvement of streets is immediately necessary and will be of general benefit to the city and its citizens; and WHEREAS, the Council now finds that the city has no funds available or provided for in the existing budget and tax levy which may be applied to said projects, making it necessary to authorize the is.s.uance of bonds of the city in order to procure such funds, that an extraordinary emergency exists for the making of the additional appropriation hereinafter set out;