HomeMy WebLinkAboutAppropriation of $10,600.00 anf for the Transfer Thereof from the General Fund to Account of the ControllerORDINANCE No. �
Passed by the Common Council of the City of South Bend,
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Approved and signed by
Clerk
rf Common Council
-00107
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Clerk
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AN ORDINANCE FOR THE EMERGENCY APPROPRIATION
OF $10,600.00, AND FOR THE TRANSFER THEREOF
FROM THE GENERAL FUND OF THE CITY OF SOUTH
BEND TO AN ACCOUNT KNOWN AS B15, BEING THE
INTEREST ACCOUNT OF THE CONTROLLER OF THE
CITY OF SOUTH BEND, INDIANA.
WHEREAS, on the 1st day of November, 1940, Barrett
Lava Refunding Bond Issue in the amount of $1,650,000.00 of the
City of South Bend, Indiana, was put on the market; and
WHEREAS, no provision was made in the 1941 budget
to meet the interest that would become due on said issue in the
year 1941; and
WHEREAS, it is desirable, urgently necessary and a
matter of emergency that moneys be made available to pay the
interest due and to become due and owing on said bonds in the
year 1941; and
WHEREAS, the sum of 0010,600.00 is needed to pay the
interest and prevent a default on said bonds.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL
OF THE CITY OF SOUTH BEND, INDIANA, THAT:
Section 1. The amount of $10,600.00 be, and the
same is hereby specially transferred from the General Fund of
the City of South Bend to an account known as B15, being the
Interest Account of the Controller of the City of South Bend,
Indiana, and the said amount is hereby specially appropriated for
the purpose of paying the interest due and to become due in the
year 1941 by reason of the Barrett Law Refunding Bond Issue of
November lst, 1940 in the amount of $$1,650,000.00.
Section 2. This ordinance shall be in full force
and effect from and after its passage by the Common Council, its
legal publication and its approval by the Mayor of the City
of South Bend, together with the approval of the State Board of
Tax Com issioners as provided by law.
Dated this day of September, 1941.
Apprred by
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Passed by the Common Council of/ City of South
Bend, Indiana., this day of 'September; 1941.
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Approved and signed by -the Mayor of the City of
South Bend on the day of September, 1941.
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