17-73 Authorizing the issuance of bonds for the Park Districts

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CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR x x ; Filed in Clerk's Office October 17, 2017 OCT 18 2017 Mr.Tim Scott, President KARE4EMAh FOWLER South Bend Common Council CITY CLERK,SOUTH BEND,IN 41 Floor County-City Building South Bend IN 46601 RE: My SB Parks&Trails Parks Bond Dear President Scott, Attached is A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,APPROVING AND AUTHORIZING THE ISSUANCE OF BONDS OF THE CITY OF SOUTH BEND PARK DISTRICT AND RELATED MATTERS. The My SB Parks&Trails initiative seeks to leverage over$12 million worth of private funds and grants to make a transformative impact throughout the city's shared green spaces. The entire portfolio of projects includes parks improvements to 32 parks and dozens of miles of trails,throughout every neighborhood in the city,benefiting six focus areas: neighborhood improvement, public safety, social equity,ecological stewardship,public health, and economic impact. Every defined project has been established through a substantial amount of resident engagement, including dozens of community forums, hundreds of hours of stakeholder&neighborhood sessions, and thousands of pieces of written feedback. These are all documented through City Plan 2025, Parks&Recreation Master Plan 2014,Riverfront Parks&Trails Conceptual Framework,City Cemetery Master Plan,Coal Line Trail Plan, and various neighborhood plans. The projects have been additionally informed by a substantial amount of professional consultation,industry benchmarks,and certified research. When complete,the My SB Parks &Trails investments will fundamentally change the landscape of South Bend to benefit every resident for many generations to come. This Resolution approves of the issuance of Park District Bonds in 11 series in principal amounts not to exceed those listed for each series at Exhibit A to the resolution to fund the improvements described with respect to each series at Exhibit A. The bonds would be payable from a tax levy on the Park District (which has boundaries coterminous with the City boundaries)which levy will replace the expiring Hall of Fame debt service levy. The Park District bonds are proposed to be issued before the end of the year. Thank you for your consideration. We will attend the Committee and Council meeting along with representatives from Barnes&Thornburg&Umbaugh to address any questions. Cordially, Aaron Perri James Mueller Executive Director Executive Director Venues Parks&Arts Community Investment EXCELLENCE I ACCOUNTABILITY f INNOVATION i INCLUSION I EMPOWERMENT