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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 00 /100 Dollars <br />($16,100,000.00). <br />Section II. 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 />i <br />Member, South Bend Common Council <br />Attest: <br />ity C erk <br />Presented by me to the Mayor of the City of South Bend on the day <br />Of , 2012, at : fo o'clock of .m. <br />Ci lerk yiu-,I <br />Approved and signed by me on the kt-, day of 2012, at <br />Y -`ts- o'clock q - .m. <br />1 st READING q —�,3 —17- <br />PUBLIC HEARING t I- <br />3 rd READING 5- _ l%A— — <br />NOT APPROVED <br />REFERRED <br />PASSED r— <br />Mayor, City of SodffB n <br />} <br />in Clerk'' <br />Ok <br />3 <br />