09/25/12 Board of Public Works Minutes

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REGULAR MEETING SEPTEMBER 25 2012 310 WHEREAS, the Board has reviewed the form of a bond ordinance to be adopted by the Common Council authorizing the City to issue and sell the 2012 Bonds for the purpose of financing the Project (the "2012 Bond Ordinance "), a copy of which is attached hereto as Exhibit A, and the Board has found the 2012 Bond Ordinance to be satisfactory. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: Section 1. The Board hereby recommends to the Common Council that the improvements described on Exhibit B attached hereto, which constitute the Project, be made to the Sewage Works. Section 2. To provide funds necessary to pay for the costs of the Project, the Board hereby approves and recommends to the Common Council the issuance by the City of sewage works revenue bonds in a principal amount not to exceed Twenty Five Million Dollars {$25,000,000). Section 3. The Board hereby approves the substantially final form of the 2012 Bond Ordinance presented to this meeting and recommends to the Common Council the adoption of such 2012 Bond Ordinance which sets forth the terms and conditions of the 2012 Bonds to be issued thereunder. Section 4. The Board hereby ratifies the actions taken to file the 2012 Bond Ordinance with the Clerk of the City ( "City Clerk ") for presentation to the Common Council, and the Clerk of the Board is hereby directed to present a copy of this Resolution to the City Clerk for presentation to the Common Council for its consideration, as soon as may be done, thereby requesting the issuance of the 2012 Bonds. Section 5. This Resolution shall be in full force and effect from and after its adoption by the Board. Adopted at a meeting of the Board of Public Works of the City of South Bend, Indiana, on this 25th day of September, 2012, CITY OF SOUTH BEND BOARD OF PUBLIC WORKS s /Donald E. Inks s /Kathryn E. Roos s /Michael C. Mecham ATTEST: s /Linda M. Martin, Clerk ADOPT RESOLUTION NO. 53 -2012 — A RESOLUTION OF THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND INDIANA RECOMMENDING THE CURRENT REFUNDING OF THE CITY'S OUTSTANDING WATERWORKS REVENUE BONDS OF 2002 THE ISSUANCE AND SALE OF REVENUE BONDS TO PROVIDE FUNDS FOR THE PAYMENT THEREOF AND OTHER MATTERS IN RESPECT THERETO Upon a motion made by Mr. Mecham, seconded by Ms. Roos and carried, the following Resolution was adopted by the Board of Public Works: RESOLUTION NO. 53 -2012 A RESOLUTION OF THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND, INDIANA, RECOMMENDING THE CURRENT REFUNDING OF THE CITY'S OUTSTANDING WATERWORKS REVENUE BONDS OF 2002, THE ISSUANCE AND SALE OF REVENUE BONDS TO PROVIDE FUNDS FOR THE PAYMENT THEREOF, AND OTHER MATTERS IN RESPECT THERETO WHEREAS, the City of South Bend, Indiana (the "City ") has heretofore established, constructed and financed a municipal waterworks (the "Waterworks ") and now owns and