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ORDINANCE NO. <br />AN ORDINANCE AMENDING ORDINANCE NO. <br />4880 -66 ENTITLED "AN ORDINANCE OF THE <br />CITY OF SOUTH BEND, INDIANA, AUTHORIZING <br />THE MAKING OF A TEMPORARY LOAN FOR THE <br />GENERAL FUND AND THE ISSUANCE AND SALE <br />OF WARRANTS BY THE CITY FOR SUCH PURPOSE" <br />BY REVISING THE INTEREST RATE PROVIDED IN <br />SAID ORDINANCE FROM Yl TO 6 3%. <br />FILED IN CLERK'S OFFICE <br />SEP 221966 <br />KATHRYN L. BLOUGH <br />CITY CLERK, SOUTH BEND, IND. <br />WHEREAS, the Common Council did on the 12th day of September, 1966 <br />pass an Ordinance known and styled as Ordinance No. 4880 -66 and entitled <br />"AN ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAKING <br />OF A TEMPORARY LOAN FOR THE GENERAL FUND AND THE ISSUANCE AND SALE OF <br />WARRANTS OF THE CITY FOR SUCH PURPOSE ", and, <br />WHEREAS, said Ordinance limited the amount of interest to be paid <br />by the City to not more than 37 and, <br />WHEREAS, it is now desirable to amend said Ordinance to provide for <br />the payment of interest not to exceed 67 because of the inflationary <br />interest rimes now in existance. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY <br />OF SOUTH BEND, INDIANA: <br />SECTION 1. That Ordinance No. 4880 -66 being an Ordinance entitled <br />"AN ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAKING <br />OF A TEMPORARY LOAN FOR THE GENERAL FUND AND THE ISSUANCE AND SALE OF <br />WARRANTS OF THE CITY FOR SUCH PURPOSES ", is hereby amended so as to read <br />in Section 1 thereof "BEARING INTEREST AT A RATE NOT TO EXCEED 6% PER <br />ANNUM". <br />SECTION 2. Be it further ordained by the Common Council of the City <br />of South Bend, Indiana that the form of warrant set forth in said <br />Ordinance No. 4880 -66 is hereby amended so as to conform to the interest <br />