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E PU B(ic, <br /> VQ A <br /> N <br /> T � <br /> o tiTf1 ,i. <br /> Department of Public c Parks <br /> Administration Building <br /> St. Louis Boulevard at Wayne Street <br /> South Bend, Indiana 46617 <br /> PHONE: (219) 284-9401 <br /> September 16, 1986 <br /> Members of the Common Council <br /> County-City Building <br /> South Bend, Indiana 46601 <br /> Common Council Members: <br /> The South Bend Department of Public Parks is requesting the Common <br /> Council to approve the enclosed ordinance appropriating $232,300.00 <br /> from the General Park fund to Account #01.0399.0 - Other Contractual <br /> Services. <br /> As a requirement of the Lease/Purchase Statute, the entity providing <br /> the financing must own the land upon which the facility to be leased <br /> is built. <br /> The Lease/Purchase Agreement entered into between the Park Board and <br /> Security Pacific National Bank on December 9, 1985, and as approved <br /> by the State Tax Board , provides for the purchase of the stadium <br /> site by Security Pacific in the amount of the appraised value ($232,300.00) . <br /> These funds will be utilized for park improvements and equipment relating <br /> to the Stanley Coveleski Regional Stadium facility. <br /> Your approval of this ordinance will be appreciated. <br /> Sincerely, <br /> DEPARTMENT OF PU LIC PARKS <br /> fames R. Seitz <br /> Superintendent <br /> JRS:mm <br /> enclosure <br />