Appropriating $1,000,000.00 to be Applied on the cost of Construction, Reconstruction and Improvement of Streets, and Expenses Incurred

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1 X¢ vFaDINANCE NO, r7 k An Ordinance of the City of 6outh bend, Indiana, % appropriating the sum of One Million Dollars ($1,000,000.00) to be applied on the cost of construction, reconstruction and improvement of streets, and expenses incurred in connection therewith. WHEREAS, The Board of Public Works 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, reconstruction 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 WHE ZAS, the Board of Public Works has determined that the estimated cost of said project, and the incidental expenses necessary to be incurred in connection 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 purpose, which request has been approved by the City Comptroller, 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 XHEREAS, the Council now finds that the construction, reconstruc- tion 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 avail -- able or provided for in the existing budget and tax levy which may be applied on said project, 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;