Approving the issuance and sale of park district bonds of the Board of Park Commissioners of the Park District of the City of South Bend

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J , • ' a J Department of Public Parrs Administration Building St. Louis Boulevard at Wayne Street South Bend 17, Indiana June 14; 1974 Mr. Peter J. Nemeth, Presideut South Bend Co-Tion Council County,-City Bilildirg 227 West Jefferson Boulevard South Bend, ID-iiana Dear Hr. Nepiet.h The Board of Pardo. Conr-ii sioners is requesting the Camon CoLmcil to approve the enclosed resolution permitting the .Park Board to proceed with legal re•- nuirsments for the issuance of $1.7 railli.on dollars of Park District fonds. The proposed bond issue would be for $700,000.00, for the first phase of the master plans for the renovation of Potawatomi Zoo; $236,000.00 for the acquisition of three parcel; of land adjacent to the proposed Century Center; 230,000.00 for the development of Island Park, $39,000.30 for the development Dof Centennial Park.: $140,000.00 for the development of Pier Park; $250,000.00 for the development of the White Water Way, y19,000.00 for architect fees; $14,0010.00 for attorney fees and bone: cost and $22,000.00 for contingencies. If revenue sharing or other funds can be found., the White Water Way Deve?op- m.ent would not be included in the proposed bond issue and the money desig- nated for the 14hite 11ater °lay could be added to the zoo renovation. The Boarcl feels tbat the proposed bond issue would be a great benefit for the citizens of South Bend. and urges the Corunon Council to approve the enclosed resolution. Very truly yours, DfPART11ENT OF PUBLIC Jaynes B. Seitz, Superintendent .1P5akb