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ORDINANCE NO. J.5 ^7z 2___ <br />AN ORDINANCE AUTHORIZING THE MAYOR AND CITY CLERK OF <br />SOUTH BEND, INDIANA, TO BORROW FROM THE STATE OF <br />INDIANA THROUGH THE STATE BOARD OF FINANCE AN AMOUNT <br />NOT TO EXCEED 40,000,00, IN ACCORDANCE WITH THE <br />TERMS AND PROVISIONS OF CHAPTER 136 IN THE ACTS OF <br />945:OF THE GENERAL A.SSE?fiBLY OF THE STATE OF INDIANA; <br />AUTHORIZING AND DIRECTING SAID OFFICERS TO MAKE AND <br />EXECUTE APPROPRIATE DOCUMENTS EVIDENCING THE INDEBT- <br />EDNESS OF THE CITY FOR THE RE- PAYMENT OF THE AMOUNT <br />BORROWED IN NOT MORE THAN FIVE YEARS WITHOUT INTEREST <br />Be it ordained by the Common Council of the City of South Bend, <br />Indiana, that; <br />1. The Mayor and City Clerk of said City are hereby authorized <br />to borrow from the State of Indiana, through its State Board of Finance, <br />and in accordance' with the terms and provisions of Chapter 136 of the <br />Acts of 1945 of the General Assembly of the State of Indiana, an amount <br />not to exceed $40,000,00, and said fund when received by the City shall <br />be paid into its General Fund and used exclusively for the purposes . <br />allowed by the aforesaid Chapter 136 of the Acts of 1945 and Chapter 61 <br />of the Acts of 1932. (Special Session) of the General Assembly of the State <br />of Indiana. <br />2. The said Mayor and said City Clerk are hereby authorized <br />and directed to execute documents properly evidencing the indebtedness <br />of the City of South Bend to the State of Indiana in the amount of any <br />such loan made under the aforesaid Chapter 136 of the Acts of 1945, and <br />binding the City to re-pay said amount in not more than five years <br />without interest. <br />30 This ordinance shall be in full force and effect from and <br />after its passage by the Common Council and its approval by the Mayor. <br />Of THE N'HHIct i1111 <br />r r <br />\,,Zember of the Common ,Cq cil <br />II& - / - -- <br />