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05-14-12 Council Agenda & Packet
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05-14-12 Council Agenda & Packet
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5/10/2012 3:07:19 PM
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City Council - City Clerk
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NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF <br /> THE CITY OF SOUTH BEND,INDIANA,AS FOLLOWS: <br /> Section I. The Common Council hereby authorizes the Building Corporation to <br /> proceed with the refunding of the Prior Bonds in order to achieve a savings for the City. The <br /> Common Council hereby approves of the sale of the Refunding Bonds in an aggregate principal <br /> amount not to exceed Sixteen Million One Hundred Thousand and 001100 Dollars <br /> ($16,100,000.00). <br /> Section Il, The Mayor, the City Clerk and the Controller, and such other officers of <br /> the City as may be necessary and appropriate, are, and each of them is, hereby authorized to take <br /> any and all actions and to execute all such instruments as may be necessary or appropriate to <br /> accomplish the refunding of the Prior Bonds, in such forms as the officers executing the same <br /> shall deem proper, to be evidenced by the execution thereof, including, without limitation, <br /> (i) executing an addendum to lease to amend the Lease to provide for lower annual lease rental <br /> payments as a result of the refunding of the Prior Bonds, and (ii)entering into a continuing <br /> disclosure undertaking agreement to provide continuing disclosure with respect to the Refunding <br /> Bonds as required under the federal securities laws. <br /> Section III. This Ordinance shall be in full force and effect from and after its passage <br /> by the Common Council and approval by the Mayor. <br /> Member, South Bend Common Cou 1 <br /> Attest: <br /> . ,.., and <br /> City Clerk <br /> Presented by me to the Mayor of the City of South Bend on the day <br /> of , 2012, at o'clock .in. <br /> City Clerk <br /> Approved and signed by me on the day of 2012, at <br /> o'clock m. <br /> Mayor, City of South B <br /> id <br /> f st READING <br /> AN. 1 a 2Q <br /> 'UBLIC HEARING <br /> 3 rd REAMNG •�.. �„ ___ .w <br /> JOT AF'I�t'OVED -2 - <br /> w. <br /> `ASSED <br />
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