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• y Y <br /> generated from the Hotel-Motel Tax levy, in order to finance the <br /> improvements described above. <br /> In Ordinance No. 16-92 (as amended, the "Bond Ordinance") , St. <br /> Joseph County has authorized the issuance of such bonds, to be <br /> issued in the amount of approximately $3 , 300, 000 (the "County <br /> Bonds") , repayable from said tax levy, for the purpose of providing <br /> funds to be applied to pay for said improvements and incidental <br /> expenses in connection therewith and on account of the issuance of <br /> the County Bonds. <br /> Under the Agreement, the City is entitled to receive each year <br /> One Hundred Fifty Thousand Dollars ($150, 000) from said tax levy in <br /> consideration for operating and maintaining Century Center. The <br /> Agreement also provides that tax moneys received by the Hotel-Motel <br /> Tax Board of Managers each year shall be first applied to such <br /> $150, 000 payment. The Agreement also requires, subject to certain <br /> conditions, that said tax revenues be applied to losses incurred in <br /> the operation of Century Center. <br /> In order to carry out the desires of the City set forth herein <br /> and to enhance the marketability of the County Bonds, the City <br /> deems it advisable to apply collections from said tax levy each <br /> year first to the payment of the County Bonds, and second for the <br /> building or restoration of the debt service reserve account for the <br /> County Bonds. The City wishes to amend the Agreement in this <br /> Ordinance in order to carry out the intent of this paragraph, and <br /> believes such amendments as are set forth herein will not adversely <br /> affect the rights or interests of the owners of the bonds <br /> designated "South Bend Civic Center Building Authority Civic Center <br /> Refunding Bonds" due to the facts that revenues of the Hotel-Motel <br /> Tax are substantially in excess of those available at the time said <br /> bonds were issued, and that said bonds are supported by a lease, <br /> with the City as lessee, and the City is required to levy ad <br /> valorem taxes to pay the lease rental. <br /> muP <br />