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Authorizing the Issuance and Sale of Bonds Purpose of Providing Funds to be Applied cost of Construction, Reconstruction and improvement of Streets Approximate Amount $1,000,000.00
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Authorizing the Issuance and Sale of Bonds Purpose of Providing Funds to be Applied cost of Construction, Reconstruction and improvement of Streets Approximate Amount $1,000,000.00
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6/12/2014 10:42:01 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/28/1954
Ord-Res Number
3990-54
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Sec. 4. As soon as may be done after the passage of this <br />ordinance, the City Clerk shall give notice of the filing of a <br />petition for the determination to issue bonds. Said notice shall <br />be published once each week for two weeks in the South Bend Tribune <br />and The Record, the same being newspapers published in the City <br />of South Bend and representing the two leading political parties, <br />and said notice shall also be posted in three public places in <br />the City, as provided by Sections 64 -313 and 64 -1332 Burns <br />Statutes 1933. <br />Said bonds shall not be advertised for sale prior to the <br />expiration of the period during which taxpayers may file re- <br />monstrances or objecting petitions to the issuance of said bonds. <br />In the event a remonstrance shall be filed by the owners of taxable <br />real estate under the provisions of Section 64-313 Burns Statutes <br />1933, then no further steps towards the issuance of said bonds shall <br />be taken unless and until the Common Council shall have determined <br />that such remonstrance is insufficient. In the event an objecting <br />petition or petitions are filed by tax payers under the provisions <br />of Section 64 -1332 Burns Statutes, 1933, then no further steps <br />towards the issuance of said bonds shall be taken unless and until <br />the State Board of Tax Commissioners shall issue its order approving <br />the issuance of said bonds. In the event it shall be determined by <br />the State Board of Tax Commissioners, or otherwise, that the whole <br />amount of the bonds herein authorized shall not be issued, then <br />the City Controller shall be authorized to advertise and sell a <br />lesser amount of bonds, and the bonds not issued and sold shall <br />be the bonds of the longest maturity or maturities. <br />Sec. 5. Prior to the sale of said bonds the City Controller <br />shall cause to be published a notice of such sale once each week <br />for two weeks in the South Bend Tribune and The Record. The date <br />fixed for the sale shall not be earlier than seven (7) days after <br />
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