Authorizing the Issuance and Sale of General Purpose Bonds in the Sum of $450,000.00 Providing for Time and Manner of Advertising

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• • ORDINANCE N0. 776g AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF GENERAL PURPOSE BONDS IN THE SUM OF FOUR HUNDRED AND FIFTY THOUSAND DOLLARSFI450,000.00 AND PROVIDING FOR THE TIME AND MANNER OF ADVERTISING AND THE TERMS AND MANNER OF SALE OF SAID BONDS BE IT ORDAINED by the Common Council of the City of South Bend, Indiana. r` SECTION 1. That General Purpose Bonds in the sum of Four Hundred and Fifty Thousand ($450,000.00) Dollars be issued and sold by the City of South Bend, Indiana, as hereinafter provided, the proceeds of which shall be used for general purposes of said City, including costs to the said City for track elevation the costs to the City for condemnation of lands and improvements for the widening of Fellow and Sample Streets • for the New York Central -viaduct at said streets and the unpaid balance of the first installment for track removal due to the Grand Trunk Western Railway. SECTION 2. • Said Bonds shall be Four Hundred and Fifty (450) in number, each of which shall be for the principal sum of One Thousand ($1,000.00) Dollars and shall bear date of June 1st, 1929 and shall be payable, twenty (20) years after date, at the National Park Bank of New York, or at such other bank as may be designated by the purchaser, with interest at the rate of Four and One-half (41%) Percent per annum, payable semi- annually on December 1st and June 1st of each year thereafter, until said bonds are fully paid. Each of said bonds shall be signed by the • Mayor and countersigned by the City Controller. SECTION 3. Each of said bonds shall contain substantially the follow- ing provisions and be in the following form, to=wit: UNITED STATES OF AMERICA STATE OF INDIANA CITY OF SOUTH BEND NO. $ 1,000.00 GENERAL PURPOSE BOND KNOW ALL MEN BY THESE PRESENTS:. That the City of South Bend, in the County of St . Joseph and State bf"'-Indiana, is indebted to and promises to pay the bearer, One Thousand ($1;000.00) Dollars in lawful money of the United States of America, twenty years after date, on the first day of June, 1949 with interest at the rate of Four and One-half (41%) per cent. per annum, payable semi-annually upon the first day of December and June of each year upon presentation and delivery of the proper coupons hereto attached, bearing the fac-simile signature of the City Con- troller. - 1 - L F .