Issuance and Sale of Bonds for Construction & Improvements of Sewers

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Sec. 4. As soon as may be done after the passage of this ordinance the City Clerk shall give notice of the filing of the petition for and de- termination to issue bonds. Said notice shall be published once each week for two weeks in the South Bend Tribune and South Bend Mirror, the same being newspapers published in the City of South Bend and representing the two lead- ing political parties, and said notice shall also be posted in three public places in the City, as provided by Sections 64 -313 and 64 -1332 Burns statutes 1933. Said bonds shall not be advertised for sale prior to the expiration of the period during which taxpayers may file remonstrances or objecting peti- tions to the issuance of said bonds. In the event a remonstrance shall be filed by the owners of taxable real estate under the provisions of Section a -313 Burns Statutes 1933, then no further steps towards the issuance of said bonds shall be taken unless and until the Common Council shall have de- termined that such remonstrance is insufficient. In the event an objecting petition or petitions are filed by taxpayers under the provisions of Section 64 -1332 Burns Statutes 1933, then no further steps towards the issuance of said bonds shall be taken unless and until the State Board of Tax Commissioners shall issue its order approving the issuance of said bonds. In the event it shall be determined by the State Board of Tax Commissioners, or otherwise, that the whole amount of the bonds herein authorized shall not be issued, then the City Clerk shall be authorized to advertise and sell a lesser amount of bonds, and the bonds not issued and sold shall be the bonds of the longest maturity or maturities. Sec. 5. Prior to the sale of said bonds the City Controller shall cause to be published a notice of such sale once each week for two weeks in the South Bend Tribune and South Bend Mirror, and one time in The Indianap- olis Commercial. The date fixed for the sale shall not be earlier than seven (7) days after the last of said publications. Said bond sale notice shall -5-