South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-02-28
MAYOR SEEBIRT.
CITES NECESSITY
OF BOND ISSUE.
Says Action Needed to Meet
City's Expenses in Warn
ing TO Council.
INTRODUCE ORDINANCE
Measure Authorizing Issue
Passes Initial Readings
Traffic Measure Read.

s. warning concerning the disas-
trous financial condition into which
tae city of South Bend has been
drifting IN recent years was contained
iu An eight-page typewritten report
prepared by Mayor Ell r. Seebirt and
" nich WAS transmitted 20 the mem
hars OF the common council at their
regular meeting iu the city hall last
night. Together with the report, an
ordnance authorizing the issuance
and sale OF general purpose bonds in
tle sum OF 500. 900 was introduced
pa ssed first and second readings. and
was referred 20 the committee of the
whole
Councilman George r. Hull's park
I.g ordinance was also introduced,
slten FIRST and second readings, and
passed on 20 the committee OF the
whole for discussion. The ordinance
appeared in an amended form. in
that It does not include Main st. as
one OF the streets to be affected by
the passage OF tho ordinance, but II
IS said tnat many other changes Will
b.. made before the measure Will
meet with final approval of the gen
eral public. Complete discussion OF
the proposed law viii be held at the
committee OF the whole meeting next
Monday night.
Outlines Financial status
Mayor Seebirt i'm his report out
lined I'm brief the financial status OF
tne city. and declared that the bond
i-=ue was absolutely necessary tc|
meet the city's expenses until the
next installment of taxes are paid In
May. According 20 the provisions OF
The ordinance authorizing the is
suance and sale Of the 100000
worth of bonds there win be 100
bonds each for the sum OF $1,000,
dated April /, 1922, and running for
three years. bearing interest at ive
per cent. They will be made payable
to the National Park Bank OF New
York Cuy The interest VIII be made
payable semi-annualy, in October
and April OF each year.
The mayor also informed the city
fathers that steps had already been
taken Co organize the various de
partments of the city on the most
economical basis. He declared that
The estimate operating expenses for
the year 1922 would probably be de-
creased about 100000 compared
with the Identical operating expenses
incurred last year. The total cost Of
running the city this year viii
amount 90 about SS25.O00. which is
about $4,000 less than in 1921, and
includes unpaid bills from last year
t1taliug S65.O00.
Financial Report
Fouowing IS Mayor Seebirt's
financial report.
TO the Honorable Members OF the
Common Council of the City o.
south Bend Ind:
~ ann herewith submitting 20 YOU
for your examination and considera-
ton. report on the present hnau-
ci7I condition OF the city.
~ wish 20 assure YOU that I do
rot make this report I'm "a spirit OF
criticism bat with q purpose only
LED eaU 90 your attention facts from
which there arc mo- escape and
which we must deal with In solving
tne problems Of the present and fu-
uro
since no annual report has been
uI Will be published for the year
1921 YOU should have this informa-
tIcu brought Co YOU in some way. and
@ feel that I should call your atteu-
tiou 90 certain conditions in order
that YOU may have necessary kuowi-
cdee in making additional appropri-
atots and expenditure during the
present year. and that YOU may be
able Co meet these conditions.
General TEod Only.
This report mas 90 do with in
ONE and expenditures from the
general fund only. that is the fund
from which You make additional APP
Preparations after The bEd@st is fixed
r September OF each wear
OF have attached 20 this report
hes markes Exhibits a" and "B"
which contain The information on
which this is based. In explanation
20 the same. advise that Table "A''
shows the income Of the general
fund and the cost OF operating the
departments OF finance. public
continued on page FOUR