Establishing College Football Hall of Fame Debt Service Fund

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• The Common Council has determined that it is in the best interest of the City that the sum of $524, 416. 00 be appropriated from and set apart within the College Football Hall of Fame Debt Service Fund in order to fund, by direct payment or reimbursement, costs in connection with lease payment obligations of the Hall incurred in 1996. The City of South Bend, Indiana, through its Century Center Board of Managers also operates the Century Center. Among the obligations of the Century is the payment of a lease payment to the South Bend Redevelopment Commission, for use by the South Bend Redevelopment Commission in the satisfaction of its lease rental obligations arising in connection with the Century Center Bonds. In accordance with the 1996 City Budget approved by the Common Council the Controller has transferred the sum of $294, 040 . 00 from the Cummulative Capital Improvement Fund, Fund 407, to Fund 318 and that the sum of $597, 170. 00 be appropriated and set apart within the Fund 318, the Redevelopment/Century Center Bond Fund, which fund includes receipts by the Century Center of lease payments from the South Bend Community School Corporation in order to fund, by direct payment or reimbursement, costs in connection with lease payment obligations of the Hall incurred in 1996. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND AS FOLLOWS: Section I. There is hereby created the College Football Hall of Fame Debt Service Fund, Fund No. 377, for the purpose of receiving excess operating revenues and certain private donations to the College Football Hall of Fame for use in connection with lease rental obligations arising in connection with the Hall of Fame. Section II . There is hereby appropriated from Fund 270 of the City of South Bend, the total sum of $108, 122 . 66 to the College Football Hall of Fame Debt Service Fund. Section III . There is hereby appropriated and ordered set apart out the College Football Hall of Fame Debt Service Fund for the purposes hereinabove specified, the sum of $524, 416. 00, which amount is necessary in connection with lease payment obligations in connection with the College Football Hall of Fame in 1996. Section IV. There is hereby appropriated and ordered set apart out the Redevelopment/Century Center Bond Fund, Fund 318, for the purposes hereinabove specified, the sum of $597, 170 . 00, which amount is necessary in connection with lease payment obligations in connection with the Century Center in 1996. Section V If any one or more of the provisions contained in this ordinance shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision