HomeMy WebLinkAboutAuthorizing a Temporary Loan from the Waste Water Treatment Plant to the South Bend Public Transportation Corp Not to Exceed $150,000.00ORDINANCE NO. 4966 -68
Passed by the Common Council of the City of South Bend,
JAnuary 8, 19 68
Presented by me to the Mayor of the City of South Bend,
Approved and signed by
Clerk
Of Common Council
Clerk
IDEAL 01SW PRESS
FILED IN CLERK'S OFFICE
JAN 4 1968
KATHRYN L. BLOUGH
CITY CiERK, SOUTH BEND, IND.
ORDINANCE NO. 4966 -68
AN ORDINANCE AUTHORIZING A TEMPORARY LOAN FROM THE WASTE WATER
TREATMENT PLANT TO THE SOUTH BEND PUBLIC TRANSPORTATION
CORPORATION IN AN AMOUNT NOT TO EXCEED 96150,000.00,AS Alff
WHEREAS, the South Bend Public Transportation Corporation is
in need of funds for current operating expenses, which expenses must be
met prior to the receipt of taxes in the year 1968, and
WHEREAS, the South Bend Public Transportation Corporation
has adopted a resolution requesting a loan from the Waste Water Treat-
ment Plant of the City of South Bend in an amount not to exceed
$150,000.00, and
WHEREAS, the Board of Commissioners of the Waste Water
Treatment Plant has adopted a resolution approving such loan to the
South Bend Public Transportation Corporation, and
WHEREAS, such loan shall be repaid to the Waste Water Treat-
ment Plant by the South Band Public Transportation Corporation from the
qr rgvenu �a +
collection of taxes/ ee- yea —=- �e- in 1968, and
WHEREAS, such temporary loan is authorized by the provisions
of Burns Indiana Statutes annotated, at Sections 48 -7230 and 48 -8824,
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA:
Section 1. That a temporary loan in an amount not to exceed
$150,000.00 be made for and on behalf of the South Bend Public Trans-
portation Corporation from the Waste Water Treatment Plant of the City
of South Bend, and all the proceeds of which loan shall be placed in the
operating fund of the South Bend Public Transportation Corporation and
shall be used for the purpose of meeting current expenses of the South
Bend Public Transportation Corporation included in the regular budget
and appropriations adopted for the year 1968, which expenditures must be
made prior to the receipt of taxes in the year 1968.:.
Said temporary loan shall be without interest and repaid by
the South Bend Public Transportation Corporation to the Waste Water
Treatment Plant of the City of South Bend on or before December 30, 1968,
from the collection of taxes or revenues to be Tevis in the year 1968.
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Section 2. This Ordinance shall be in full force and effect
from and after its passage and signing by a mayor.
member of the Common Council
Passed by the Common Council of t e City of South Bend on the
_Z,e of , 1968.
Presiding Officer of the Common Council
ATTEST:
Presented by me to the mayor of the City of South Bend, on the
day of 1 1968 at the hour of AO::i� o'clock, A.M.
- - - , - - - -
This Ordinance approved and signed by me on the day of
1968, at the hour of /j0, 34 o'clock, #_m.
x 1,-7 , 17
ity of South ueno
Ist & 2nd READING 1/8/68
COMMITTEE OF THE WHOLE
PUBLIC HEARING 1/8/68
3rd READING 1/8/68
NOT APPROVED
REFERRED
PASSED 1/8/68 Suspension of rules