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Issue Revenue Bonds for Waterwork Improvements
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Issue Revenue Bonds for Waterwork Improvements
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Last modified
4/2/2015 12:16:42 PM
Creation date
4/2/2015 11:36:17 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1948
Ord-Res Number
3679-48
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BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: <br />Section 1. That the City of South Bend (hereinafter sometimes <br />referred to as the "City "), being the owner of and engaged in operating <br />unencumbered waterworks supplying the City and its inhabitants with <br />water for public and domestic use, now provide for certain needed ex- <br />tensions and additions to such waterworks and the payment for such ex- <br />tensions and additions from the revenues and receipts of such waterworks <br />pursuant to and in the manner prescribed in Chapter 155 of the Acts of <br />1929, and all acts amendatory thereof and supplemental thereto (some- <br />times hereinafter referred to as the "Act "). The term "waterworks," <br />"water system" and "systems" wherever used in this ordinance shall be <br />construed to mean and include the existing waterworks owned by the City <br />of South Bend and all extensions, additions and improvements thereto and <br />replacements thereof now or subsequently constructed or acquired. <br />See. 2. Said extensions and additions shall include two new <br />wells, seven million gallon elevated ground storage concrete tank, <br />addition to booster station, and certain mains designated as "South <br />Side Main," "Coquillard Supply Main, "' "Pample Street Supply Main," <br />and "Northwest Supply Main." The Board of PulRe Works and Safety is <br />hereby authorized to proceed with the construction and installation <br />of said extensions and additions, and to enter into all contracts neces- <br />sary for such purpose in conformity with the provisions of this ordinance <br />and of said act, subject, however, to the approval of the Public Service <br />Commission for the making of said extensions and additions and the is- <br />suance of the required amount of revenue bonds, and that the principal <br />and interest of the bonds issued on account of such extensions and ad- <br />ditions shall be paid solely and exclusively from the revenues of said <br />waterworks system and shall not constitute a general obligation of the <br />City. The Board of Public Storks and Safety is hereby authorized to <br />- 2 - <br />
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