Authorizing the Issuance and Sale of $1,650,000.00 Funding Bonds of City of South Bend

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provided, however, that the right shall be reserved to reject any or all bids. All bids shall be required to be accompanied by a certified check payable to the City of South Bend, Indiana, for one per cent (1 %) of the amount of such bid, which check shall be for- feited to the City by the successful bidder if he shall refuse to accept and pay for said bonds. Section 8. The proceeds received from the sale of said Funding Bonds shall be applied to the payment and satisfaction of the indebtedness represented by the judgment heretofore rendered against the City of South Bend by the St. Joseph Superior Court Number 2 in Cause Number 54558, entitled "Read vs. Beczkiewiez." Provided, however, that no Funding Bonds shall be issued by said City of South Bend in connection with liability arising against said City on account of bonds now owned by it and none of the proceeds of such Funding Bonds shall be used to pay any such liability. Section 9. That all ordinances, resolutions, or acts in conflict herewith are repealed in so far as such conflict exists and this Common Council hereby declares that an emergency exists due to the necessity of maintaining the credit of the City of Sou Bend, and this ordinance shall be in full force and effect from a after its passage. VI Tm,r Signed: _g_ CJ