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02/27/90 Board of Public Works Special Meeting Minutes
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02/27/90 Board of Public Works Special Meeting Minutes
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Board of Public Works
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Minutes
Document Date
2/27/1990
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SPECIAL MEETING <br />1 <br />1 <br />FEBRUARY 27, 1990 <br />A Special meeting of the Board of Public Works was convened at <br />9:33 a.m. on Tuesday, February 27, 1990, by Board President John <br />E. Leszczynski, with Mr. Leszczynski and Ms. Katherine Humphreys <br />present. Board member Mrs. Patricia E. DeClercq was not in <br />attendance. Also present was Assistant City Attorney Jenny Pitts <br />Manier. <br />ADOPT RESOLUTION NO. 7-1990 - RELATING TO THE DISTRIBUTION OF <br />INFORMATION REGARDING TAX ANTICIPATION TIME WARRANTS FOR 1990 <br />Ms. Katherine Humphreys made a motion that the Board adopt <br />Resolution No. 7-1990 which has been submitted at this time. Mr. <br />Leszczynski seconded the motion and the following Resolution No. <br />7-1990 was adopted: <br />RESOLUTION NO. 7-1990 <br />RESOLUTION OF THE CITY OF SOUTH BEND <br />BOARD OF PUBLIC WORKS RELATING TO THE <br />DISTRIBUTION OF INFORMATION REGARDING <br />TAX ANTICIPATION TIME WARRANTS FOR 1990 <br />WHEREAS, on February 26, 1990, the City of Sou <br />Council (the "Common Council") adopted an ordinance <br />ORDINANCE AUTHORIZING TAX ANTICIPATION TIME WARRANTS <br />(the "Ordinance") which authorized the City of Sout <br />"City") to make temporary loans to meet current expe <br />to the provisions of Indiana Code 36-4-6-20 for the <br />benefit of the General Fund of the City, which loans <br />authorized to be evidenced by tax anticipation time <br />the City in the following amount: <br />Amount Fund <br />5,900,000 General Fund <br />and; <br />h <br />th Bend Common <br />entitled "AN <br />FOR 1990" <br />Bend (the <br />nses pursuant <br />use and <br />were further <br />warrants of <br />WHEREAS, the Ordinance authorized and directed the City <br />Controller to have Tax Anticipation Time Warrants (the <br />"Warrants") prepared and to sell the Warrants at a price not less <br />than the par value thereof to a purchaser or purchasers pursuant <br />to a Purchase Agreement in accordance with the terms and <br />conditions of the Ordinance; and <br />WHEREAS, the Ordinance further authorized and directed the <br />City Controller to make such filings and requests, deliver such <br />certifications, execute and deliver such documents and <br />instruments and otherwise take such actions as necessary or <br />appropriate to carry out the terms and conditions of the <br />Ordinance; and <br />WHEREAS, an "Official Statement" relating to the sale of the <br />Warrants has been prepared by Springsted Incorporated as the <br />financial advisor to the City and presented to the City of South <br />Bend Board of Public Works (the "Board") and the Board desires to <br />approve the "Official Statement" as presented to it and authorize <br />its distribution to facilitate the sale of the Warrants; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF SOUTH BEND <br />BOARD OF PUBLIC WORKS THAT: <br />1. The "Official Statement" relating to the sale of the <br />Warrants by the City is hereby approved in the form presented to <br />the Board at this meeting. <br />2. Springsted, Incorporated is hereby authorized and <br />
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