Appropriating Sum of $1,000,000.00 Applied to cost of Construction, Reconstruction and Improvement of Streets and Expenses

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Noll 21 '58 AN o:° +.2 9= =3 4 6' 5 U. ALE?% ORDINANCE NO. 4252 - - -58 APB ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA, APPROPRIATING THE SUM OF ONE MILLION DOLLARS($1,000,000.00) TO BE APPLIED TO THE COST OF CONSTRUCTION, RE- CONSTRUCTION AND IMPROVEMENT OF STREETS, AND EXPENSES INCURRED IN CONNECTION THEREWITH. AS AMENDED 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 safety and 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 crn nection 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 purposes, 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, re- construction 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 issuance of bonds of the city in order to procure such funds, and that an extraordinary emergency exists for the making of .the additional appropriation hereinafter set out; Now, Therefore BE `IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: Section 1. That the sum of One Million Dollars $1,000,000.00) be appropriated out of the proceeds of the bonds heretofore authorized to be issued by the Common Council designated as "City of South Bend, Municipal Bonds of 1958Y, for the use of the Board of Public Works and Safety in paying the cost of construc- tion, re- construction and improvement of streets; that included therein shall be