04-23-12 Council Agenda & Packet

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NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,INDIANA,AS FOLLOWS: Section I. The Common Council hereby authorizes the Building Corporation to proceed with the refunding of the Prior Bonds in order to achieve a savings for the City. The Common Council hereby approves of the sale of the Refunding Bonds in an aggregate principal amount not to exceed Sixteen Million One Hundred Thousand and 001100 Dollars ($16,100,000.00). Section I1. The Mayor, the City Clerk and the Controller, and such other officers of the City as may be necessary and appropriate, are, and each of them is, hereby authorized to take any and all actions and to execute all such instruments as may be necessary or appropriate to accomplish the refunding of the Prior Bonds, in such forms as the officers executing the same shall deem proper, to be evidenced by the execution thereof, including, without limitation, (i) executing an addendum to lease to amend the Lease to provide for lower annual lease rental payments as a result of the refunding of the Prior Bonds, and (ii) entering into a continuing disclosure undertaking agreement to provide continuing disclosure with respect to the Refunding Bonds as required under the federal securities laws. Section III. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Member, South Bend Common Cou 1 Attest: C End Ica, City Clerk ca a�' �a9� wx��t4 o :.. Presented by me to the Mayor of the City of South Bend on the day of , 2012, at o'clock .m. City Clerk Approved and signed by me on the day of 2012, at o'clock m. Mayor, City of South for 1 st READING -L�-1 Z., p I PUBLIC HEARING A{ la 3 rd READING *IOF APPROVED -2 - Jot-m 1V'n0L1,Rb.7m..�.. ZEFERP,ED G °L1'CL ss,t',:�Ce' V,E,"'=1f 4 )ASS r.Q