Transfer of Park Property to the South Bend Community School Corporation

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t ORDINANCE NO. S>334,1- SUBSTITUTE BILL AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, CONCERNING THE TRANSFER. OF PARK PROPERTY TO THE SOUTH BEND COMMUNITY SCHOOL CORPORATION STATEMENT OF PURPOSE AND INTENT The South Bend Community School Corporation has expressed interest in acquiring certain real property owned and controlled by the City of South Bend Park Department and more commonly known as Studebaker Park, in order to allow .for the expansion of. the Riley High School. The. School. Corporation inteneg to use the real property for physical education and outdoor recreation activities and to make the same available for public use.. NOW, THEREFORE, BE. IT ORDAINED. BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: Section I. That the City of. South Bend for the use of its. Park Department. andJor Board of Park Commissioners, (the "Park Department" ) owns certain real property situated in St. Joseph County, being more particularly described as follows: All of Studebaker Park in the. City of South Bend and bounded as follows: On the South by Calvert Street;. on the East by High Street; on the West by Rush Street and Marietta Street; and on the North by Dayton and private property; as further described as City of. South. Bend Engineer's records attached hereto and made a part hereof. as Exhibit "A" (hereinafter, "the Real Property") . Section II. That. the Real Property is not required for park purposes... Section III. That on November 23, 1992, the City of South Bend Board of Park Commissioners (the "Park Board") adopted a Resolution authorizing the transfer of the Real Property to the South Bend Community School. Corporation. (the "School Corporation") in exchange for the agreement of the School Corporation to undertake and pay for certain improvements to the Real Property, to maintain said improvements, to provide public access to said improvements, either at the current park site or at some other site on the Riley campus in the event that it should be necessary to relocate park facilities currently existing at the Real. Property, to provide an updated legal description pending completion of a survey, to use said. Real. Property for physical education and outdoor recreation, and that no buildings will be. constructed. on the site other than the improved. recreation and physical education facilities, and to provide a right of reversion to the Park Department in the event any of the covenants herein are breached by the. School. Corporation.. Section IV. That the improvements to be made to, and the availability for use by the public of, the Real Property have a value to the Park Department that meets or exceeds_ the fair market value of the Real Property. Section V. That the Common Council of the City of South Bend