11-22-2021 FINAL Agenda Packet - Laserfiche WebLink

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BILL NO. 139-21 ORDINANCE NO. ____________ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE ISSUANCE AND SALE OF AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $6,500,000 OF CITY OF SOUTH BEND, INDIANA, ECONOMIC DEVELOPMENT LEASE RENTAL REVENUE BONDS, SERIES 2022 (POTAWATOMI ZOO PROJECT) AND AUTHORIZING AND APPROVING OTHER ACTIONS IN RESPECT THERETO STATEMENT OF PURPOSE AND INTENT The City of South Bend, Indiana (the “City”) is a political subdivision of the State of Indiana, and by virtue of Indiana Code 36-7-11.9 and 36-7-12, as amended (the “Act”), is authorized and empowered to adopt this Ordinance and to carry out its provisions. The South Bend Economic Development Commission (the “Economic Development Commission”) has rendered its Report concerning the proposed financing of economic development projects and economic development facilities consisting of the Potawatomi Zoo, located at 500 Greenlawn Avenue in the City (the “Zoo”) for the Potawatomi Zoological Society, Inc., an Indiana nonprofit corporation (the “Corporation”), for the construction, expansion, renovation, equipping, furnishing, and improving, as the case may be, of the Project (described below). The Economic Development Commission, after a public hearing held on November 22, 2021, adopted a Resolution which has been transmitted to the Common Council of the City (the “Common Council”) (i) finding that the financing of all or a portion of the costs (or reimbursement of the Corporation of all or a portion of the costs) of the construction, expansion, renovation, equipping, furnishing and improving, as the case may be, of the Zoo, including, without limitation, all or any portion of the following: (i) the renovation, construction and equipping of a new lion habitat to include a new rock façade, new fencing and a new visitor viewing area; (ii) the construction, equipping and furnishing a new concession and dining facility in the North American portion of the Zoo, permitting visitors to view a newly constructed black bear habitat which will permit the introduction of a new species for the Zoo; (iii) replacement of the existing corporate and family picnic area with a new covered pavilion along with a new kitchen area and new fencing, pathways and storage areas; (iv) renovation of the North American animal habitats to meet modern Zoo standards including without limitation the construction and equipping of a new holding barn in the center and the installation of new fencing and habitat esthetics; and (v) the construction and equipping of a new Tiger habitat to meet current accreditation standards for zoos which will include the construction of a new, modern habitat within a portion of Potawatomi Park land not currently being utilized by the Zoo (collectively, the “Project”) will not have an adverse competitive effect on any similar facilities already constructed or operating in or about the City; (ii) further finding that the proposed financing of the cost of the Project will be of benefit to the