Appropriation of $10,600.00 anf for the Transfer Thereof from the General Fund to Account of the Controller

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N 1 3 3 9`5 AN ORDINANCE FOR THE EMERGENCY APPROPRIATION OF $10,600.00, AND FOR THE TRANSFER THEREOF FROM THE GENERAL FUND OF THE CITY OF SOUTH BEND TO AN ACCOUNT KNOWN AS B15, BEING THE INTEREST ACCOUNT OF THE CONTROLLER OF THE CITY OF SOUTH BEND, INDIANA. WHEREAS, on the 1st day of November, 1940, Barrett Lava Refunding Bond Issue in the amount of $1,650,000.00 of the City of South Bend, Indiana, was put on the market; and WHEREAS, no provision was made in the 1941 budget to meet the interest that would become due on said issue in the year 1941; and WHEREAS, it is desirable, urgently necessary and a matter of emergency that moneys be made available to pay the interest due and to become due and owing on said bonds in the year 1941; and WHEREAS, the sum of 0010,600.00 is needed to pay the interest and prevent a default on said bonds. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, THAT: Section 1. The amount of $10,600.00 be, and the same is hereby specially transferred from the General Fund of the City of South Bend to an account known as B15, being the Interest Account of the Controller of the City of South Bend, Indiana, and the said amount is hereby specially appropriated for the purpose of paying the interest due and to become due in the year 1941 by reason of the Barrett Law Refunding Bond Issue of November lst, 1940 in the amount of $$1,650,000.00. Section 2. This ordinance shall be in full force and effect from and after its passage by the Common Council, its legal publication and its approval by the Mayor of the City