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IFiled in Clerk's Office <br /> BILL NO. 25-20 JUN 0 3 2020 <br /> DAWN M.JONES <br /> ORDINANCE NO. I CITY CLERK,SOUTH BEND,IN <br /> AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br /> INDIANA AUTHORIZING THE REFUNDING OF CERTAIN OUTSTANDING <br /> SEWAGE WORKS REVENUE BONDS, AUTHORIZING THE ISSUANCE OF <br /> REVENUE BONDS IN ONE OR MORE SERIES FOR SUCH PURPOSE IN THE <br /> AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED TWENTY-TWO MILLION <br /> DOLLARS ($22,000,000), ESTABLISHING A SEWAGE WORKS REFUNDING FUND, <br /> AND ADDRESSING OTHER MATTERS CONNECTED THEREWITH <br /> STATEMENT OF PURPOSE AND INTENT <br /> The City of South Bend, Indiana(the"City"),presently owns and operates a sewage works <br /> by and through its Board of Public Works(the"Board")for the collection and treatment of sewage <br /> and other wastes (the "Sewage Works," "Works" or "works"), pursuant to the provisions of <br /> Indiana Code 36-9-23, as amended (the"Act"). <br /> The Common Council of the City(the"Common Council"or"Council")hereby finds that <br /> certain hereinafter described outstanding bonds of the Sewage Works should be refunded to obtain <br /> a reduction in interest payments and effect a savings to the City; that the refunding of those <br /> outstanding bonds, together with redemption premium and accrued interest thereon and including <br /> all costs related to the refunding cannot be provided for out of funds of the Sewage Works now on <br /> hand and the refunding should be accomplished by the issuance of refunding revenue bonds of the <br /> Sewage Works. <br /> The Council previously adopted Ordinance No. 9951-09 on August 10, 2009, which was <br /> amended by Ordinance No. 9971-09 adopted by the Council on October 26, 2009 (collectively, <br /> the "2009 Ordinance"), and pursuant to which the City issued its Sewage Works Revenue Bonds <br /> of 2009 (the "2009 Bonds") in the original principal amount of$3,297,000 which 2009 Bonds <br /> constitute a first charge on the Net Revenues (as hereinafter defined) of the Sewage Works, are <br /> now outstanding in the amount of$1,748,401, and have a final maturity of December 1, 2028. <br /> The Council previously adopted Ordinance No. 10052-10 on November 8,2010(the"2010 <br /> Ordinance"), and pursuant to which the City issued its Sewage Works Revenue Bonds of 2010 <br /> (the"2010 Bonds") in the original principal amount of$9,345,000 which 2010 Bonds constitute a <br /> first charge on the Net Revenues of the Sewage Works, are now outstanding in the amount of <br /> $5,925,000, and have a final maturity of December 31, 2030. <br /> The Council previously adopted Ordinance No. 10118-11 on September 12, 2011, (the <br /> "2011 Ordinance"), and pursuant to which the City issued its Sewage Works Revenue Bonds of <br /> 2011 (the "2011 Bonds") in the original principal amount of $21,500,000 which 2011 Bonds <br />