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ORDINANCE NO.� <br />S3 6 7 <br />AN ORDINANCE AUTHORIZING THE APPRAISAL AND <br />CONVEYANCE OF CERTAIN VAIATER RIGHTS OWNED BY <br />THE CITY OF SOUTH BEND, INDIANA. <br />WHEREAS, the city of South Bend, Indiana, owns one <br />hundred sixty (160) shares of stock in the South Bend Manu- <br />facturing Company and by virtue of its property ownership <br />along the west race of the St. Joseph river is entitled to <br />approximately fifteen percent (150) of the water power on the <br />wrist side,of said river; and, <br />WHEREAS, said water power is not now being used by <br />the City of South Bend and no possibility of use presents itself; <br />and, <br />WHEREAS, the city of South Bend is indebted to the <br />Company <br />Oliver Farm Equipment /of South Bend, Indiana, for expenses ad- <br />vanced by said Company to the South Bend Manufacturing Company <br />for maintenance and upkeep and the salary of a water commissioner; <br />and, <br />WHEREAS, the amount of said debt is approximately <br />three thousand (C3,000 «00) dollars. <br />NOW, THEREFORE, be it ordained by the Common <br />Council of the city of South Bend, Indiana: <br />Section 1. That the City request the St. Joseph <br />Circuit Court to appoint appraisers as provided by law to appraise <br />the value of the Cityx,s shares of stock in the South. Bend Manu- <br />facturing Company. <br />Section 2. That the Mayor of the city of South <br />Bend, Indiana, is hereby authorized to transfer and make over <br />the shares of stock owned by the City in said South Bend Manu- <br />facturing Company, together with an easement of way over the <br />real estate owned by the City of South Bend, Indiana, and to <br />which is connected and attached the water rights represented by <br />the foregoing shares, provided, however, that the sale of such <br />