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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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C 7° <br />shall, in the hands of bona fide holders, have all of the qualities <br />of negotiable instruments under the law merchant. <br />Sec. 3. The form and tenor of said bonds, and the interest <br />coupons to be attached thereto, shall be substantially as follows, <br />towit: <br />UNITED STATES OF AMERICA. <br />State of Indiana County of St. Joseph <br />No. $1,000.00 <br />City of South Bend <br />Municipal Bond of 1954 <br />The City of South Bend, in St. Joseph County, <br />Indiana, for value received, hereby acknowledges it- <br />self indebted and promises to pay to the bearer <br />hereof the principal amount of <br />ONE THOUSAND DOLLARS <br />on the first day of , 19 , and to <br />pay interest thereon from the date ereof uni tie <br />principal is paid, at the rate of per <br />cent ( ) per annum, payable on the first day of <br />*, an semi - nnually thereafter on the firs <br />days of nd In each year, upon presentation <br />and surrender of the annexed coupons as they severally <br />become due. <br />Both principal and interest of this bond are <br />payable in lawful money of the United States of America <br />at the First Bank and Trust Company of South Bend, <br />Indiana, <br />This bond is one of an authorized issue of One <br />thousand (1000) bonds of the City of South Bend, Indiana, <br />of like date, denomination, tenor and effect, except as <br />to dates of maturity, aggregating One Million Dollars <br />($1,000,000.00), numbered consecutively from 1 to 1000 <br />inclusive, issued for the purpose of providing funds to <br />be applied on the cost of construction, reconstruction <br />and improvement of streets, and expenses incidental <br />thereto, pursuant to an ordinance adopted by the <br />Common Council of said City on the day of <br />, 1954, entitled Or nance of the <br />ity oP out Bend* Indiana, authorizing the issuance <br />and sale of bonds of said City for the purpose of pro- <br />viding funds to be applied on the cost of construction, <br />reconstruction and improvement of streets, and expenses <br />incurred in connection therewith," and an act of the <br />General Assembly of the State of Indiana entitled "An <br />Act concerning municipal corporations," approved March <br />6, 1905, and all acts amendatory thereof and supple- <br />! mental thereto, including Chapter 119 of the Acts of <br />1937. <br />
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