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ORDINANCE NO. J A_4 J?
<br />AN ORDINANCE CONFIRMING THE SALE AND TRANSFER
<br />OF 160 SHARES OF STOCK OF SOUTH BEND MANUFACTUR-
<br />ING COMPANY BY MUNICIPAL CITY OF SOUTH BEND,
<br />INDIANA, TO INDIANA FRANKLIN REALTY, INC., AN
<br />INDIANA CORPORATION
<br />WHEREAS, Ordinance No. 3914, as enacted
<br />on March 23, 1953, by the Common Council of
<br />the City of South Bend, Indiana, and approved
<br />on March 24, 1953, authorized the sale of 160
<br />shares of capital stock of South Bend Manu-
<br />facturing Company, an Indiana corporation,
<br />which stock was issued in the name of the
<br />Municipal City of South Bend, Indiana; and
<br />WHEREAS, said Ordinance No. 3914
<br />provides that the Board of Public Works and
<br />Safety of the City of South Bend, Indiana,
<br />should sell and deliver said stock to any
<br />purchaser or purchasers thereof upon the
<br />payment of not less than the full appraised
<br />value thereof as determined by three dis-
<br />interested freeholders of the City of South
<br />Bend, Indiana, appointed by the Judge of the
<br />St. Joseph Circuit Court of St. Joseph County,
<br />Indiana, to appraise such stock; and
<br />WHEREAS, pursuant to said Ordinance
<br />No. 3914, the Judge of the St. Joseph Circuit
<br />Court of St. Joseph County, Indiana, on
<br />April 8, 1953, appointed Robert G. Happ,
<br />Percy H. Walsh, and William S. Moore, three
<br />disinterested freeholders of the City of
<br />South Bend, Indiana, to appraise said stock;
<br />and
<br />WHEREAS, said Robert G. Happ, Percy H.
<br />Walsh and William S. Moore subsequent thereto
<br />duly appraised said 160 shares of stock to be
<br />of a true cash value of $4,100.00; and
<br />WHEREAS, said Board of Public Works and
<br />Safety of the City of South Bend, Indiana,
<br />on December 7, 1953, sold and authorized the
<br />transfer of said 160 shares of capital stock
<br />to Indiana Franklin Realty, Inc., an Indiana
<br />corporation, and received as consideration
<br />therefor, the following:
<br />1. Approximately 30.16 acres
<br />of realty located in the Northwest
<br />Quarter of Section No. 26, Township
<br />38 North, Range 2 East, St. Joseph
<br />County, Indiana, as more particularly
<br />described in the form of Warranty Deed
<br />submitted at this meeting, incorporated
<br />herein by reference, and a copy of which
<br />form of Warranty Deed has been hereto-
<br />fore filed with the minutes of the meet-
<br />ing held by the Board of Public Works
<br />and Safety of the City of South Bend,
<br />Indiana, on December 7, 1953.
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