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Authorizing the Issuance and Sale of $1,650,000.00 Funding Bonds of City of South Bend
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Authorizing the Issuance and Sale of $1,650,000.00 Funding Bonds of City of South Bend
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5/29/2015 3:23:34 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/12/1940
Ord-Res Number
3331-40
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No. <br />(Form of Coupon) <br />On the first day of <br />19 , the City of <br />South Bend, St. Joseph County, Indiana, will pay to bearer <br />Dollars ($ ) at the <br />office of the Treasurer of the City of South Bend, in the City of <br />South Bend, Indiana, for interest due that day on its Funding Bond, <br />dated October 1, 1940, numbered <br />City Clerk <br />Mayor <br />City Controller <br />Section 5. That for the purpose of paying the principal <br />and interest on said Funding Bonds as the same shall mature, there <br />shall be annually levied and collected a special tax on all of the <br />property in said City of South Bend subject to taxation in an amou <br />sufficient for that purpose; provided, however, that the provision <br />herein made for the levy of taxes shall not preclude the payment o <br />principal or interest on said Funding Bonds from any other funds <br />lawfully available for that purpose. <br />Section 6. The holder or holders of said Funding Bonds <br />shall always be subrogated to all of the rights, remedies and <br />privileges possessed by or inured to the holder or holders of cl <br />represented by the judgment being paid from the proceeds of said <br />Funding Bonds. <br />Section 7. That said Funding Bonds be advertised for- <br />6 <br />sale in the manner provided by law by the City Clerk and be sold <br />T�/P�ry 10.'TRO / /eie <br />by to the best bidder who shall bid not less than <br />par and accrued interest to date of delivery of the bonds and the <br />lowest interest rate and interest cost to the City of South Bend; <br />-5- <br />
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