Sale of Bonds for Cost of the Construction of Storm, Sanitary & other Sewers to Maple Road

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WHEREAS, a petition has been filed under the provisions of Chapter 119 of the Acts of 1937 by more than fifty (50) owners of taxable real estate in the City of South Bend, requesting the Common Council to issue bonds in an amount not exceeding One Million One Hundred Thousand Dollars ($1,100,000) for the purpose of procuring funds to be applied on the cost of the projects hereinbefore de- scribed; and WHEREAS,_ the Council now finds that the construction of such improvements and acquisition of such lands and rights -of -way are necessary and will be of general benefit to the City and its citizens; now therefore, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, IND IANA,: Section 1. That the City of South Bend (hereinafter sometimes referred to as the "City "), by and through its Board of Public Works and Safety, proceed with the construction of storm, sanitary and other sewers to Maple Road for the Northwest Industrial Development area, as well as in the area of LaFayette Boulevard and Iroquois Avenue located North of the St. Joseph River and in the Chippewa Avenue and Ireland Road areas; also,witjh the acquiring of lands and rights -of -way for a new Sample Street bridge and for making major thoroughfare improvements and acquiring of rights- of-way therefor, as recommended by the Board of Public Works and Safety. Section 2. For the purpose of providing funds with which to pay the cost of said projects and the incidental expenses necessary to be incurred in connection therewith, the City shall make a loan in the amount of One Million One Hundred Thousand Dollars ($1,100,000). In order to procure said loan, the City Controller is hereby authorized -2-