Authorizing the Issuance and Sale of Bonds for Cost of Construction of Storm, Sanitary & other Sewers to maple Road for the Northwest Industrial Development Area

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O R D I N A N C E N 0. TAD/ —le/ An ordinance to amend Section 2 and Section 3 of Ordinance No. 4407 -61 of the City of South Bend, Indiana, authorizing the issuance and sale of bonds of said City for the purpose of providing funds to be applied on the cost of 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, for the acquiring.of lands and rights -of -way for a new Sample Street bridge and for making major thorough- fare improvements and acquiring of rights -of -way therefor, together with the incidental expenses to be incurred in connection therewith, which Ordinance was adopted by the South Bend Common Council on October 9, 1961, and approved by the Mayor on October 10, 1961, which amendments provide for a change in the maturities of said bond. WHEREAS, the Common Council did heretofore adopt Ordinance No. 4407 -61 providing for the issuance and sale of bonds in the amount of One Million, One Hundred Thousand Dollars ($1,100,000); and WHEREAS, the Common Council now finds that the maturities of said bonds as fixed in said ordinance should be amended; NOW THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: Section 1. That Section 2 of the above entitled Ordinance be and the same is hereby amended to read as follows: "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 ($10100,000). In order to procure said loan, the City Controller is hereby authorized and directed to have prepared and to issue and sell the negotiable general obliga- tions bonds of the City, to be designated as "Municipal Bonds -1-