Approving the Transfer of $4,766.63 in Union Trust Company Savings Accounts to General Fund of City of South Bend

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ORDINANCE # AN ORDINANCE APPROVING THE TRANSFER OF $4,766.63 IN UNION TRUST COMPANY SAVINGS ACCOUNTS HELD BY THE SOUTH BEND MUNICIPAL WATER WORKS DEPARTMENT DIETER DEPOSIT FUND TO THE GMIEFAL FUND OF THE MUNICIPAL CITY OF SOUTH BEND AND AUTHOR- IZING THE TRkTJSFER BY THE PROPER OFFICIALS OF THE CITY OF SOUTH BEND OF SAID UNION TRUST ACCOUNTS TO CITIZENS TRUST & SAVINGS BANK AS TRUSTEE FOR PAYMENT OF AN OBLIGA- TION DUE SAID TRUSTEES BY THE CITY OF SOUTH BEND, IND. BE IT ORDAINED by the Common Council of the City of South Bend, Indiana: Section I - That the action of the Board of Water Trustees as of September 30, 1935 in making a grant to the General Fund of the Municipal City of South Bend of $4,766.63 in the Union Trust Company Savings account out of the assets of s said Water Department Meter Deposit Fund be in all things ratified and confirmed by this honorable body and that the City Controller of the City of South Bend be authorized and directed to- gether with the City Treasurer of the City of South Bend to make such transfers on the records as will show said Union Trust Savings accounts as the prop- erty of the City of South Bend., .,i Section II - That the City Controller and City Treasurer be authorized and directed to transfer and deliver unto the Citizens Trust & Savings Bank, as trustees for Union Trust Certificates, said Union Trust Savings Accounts in the sum of Forty -seven Hundred and Sixty -six Dollars and Sixty -three cents, for the extinguishment of a debt of the City of South Bend, for the old parking lot leased by the City from Joseph Scheininger assigned to said Citizens Trust and Savings Bank as trustee of the face amount of $40766.63. Section III - This Ordinance shall be in full force and effect from and after its passage, legal publication, public hearing, and signature by the Mayor. Ordinance. DRFI$BE OF THE COMMON COUNCIL I reccommend the passage of the foregoing NJ .� ry , a l.( CITY CONTROT OF THE CI OF SOUTH BEND, IND.