Bill No. 49-23 Revenue Bonds Authorizing the Acquisition & Construction of the Municipal Waterworks

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The City desires to authorize the issuance of a bond anticipation note or notes hereunder, if necessary,payable from the proceeds of the revenue bonds authorized herein(the`BANS"),and to authorize the refunding of said BANs, if issued. The Common Council now finds that all conditions precedent to the adoption of an ordinance authorizing the issuance of waterworks revenue bonds on parity with the Prior Bonds and BANs have been complied with in accordance with the applicable provisions of the Act. The City may enter into a Financial Assistance Agreement, Funding Agreement, Grant Agreement,and/or Financial Aid Agreement(substantially in the form of Exhibit B attached hereto and made a part hereof) ("Financial Assistance Agreement") with the Indiana Finance Authority the "Authority") as part of its drinking water loan program, supplemental drinking water and wastewater assistance program,water infrastructure assistance program and/or water infrastructure grant program, established and existing pursuant to I.C. § 5-1.2-1 through I.C. § 5-1.2-4, I.C. § 5- 1.2-10, I.C. § 5-1.2-11, I.C. § 5-1.2-14 and/or I.C. § 5-1.2-14.5 (collectively,the"IFA Program"), pertaining to the Project and the financing of the Project if any Bonds or BANs are sold to the Authority as part of its IFA Program. The Common Council understands that for the Project to be permitted to be financed under the IFA Program, the Common Council must (a) agree to own, operate and maintain the Waterworks and the Project for the duration of their useful life and (b) represent and warrant to the Authority that the Common Council has no intent to sell, transfer or lease the waterworks or the Project for the duration of their useful life. The City may accept other forms of financial assistance, as and if available, from the WA Program. NOW THEREFORE,BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,AS FOLLOWS: SECTION I. Recitals. The recitals contained in this Ordinance are true and correct and are incorporated in this Ordinance by this reference. SECTION II. Authorization of Project. The City shall proceed with the construction of the Project in accordance with the plans and specifications heretofore prepared and filed by the consulting engineers employed by the City, which plans and specifications are by reference made a part of this Ordinance as fully as if the same were attached hereto and incorporated herein. Two copies of the plans and specifications are now on file or will be subsequently placed on file in the office of the Clerk of the City and open for public inspection pursuant to IC § 36-1-5-4. The cost of construction of the Project to be financed shall not to exceed the sum of$47,791,000,plus investment earnings on the bond and BAN proceeds,without further authorization from this Common Council. Where used in this Ordinance,the term "City"shall be construed also to include any Department, Board, Commission, or Officer or Officers of the City. The terms "Waterworks," "waterworks," "works," "System," "system," and similar terms used in this Ordinance shall be construed to mean and include the existing structures and property of the Waterworks owned by the City together with all of the real estate, equipment and appurtenances thereto used in connection therewith, and all extensions, additions, and improvements thereto and replacements thereof, now or subsequently constructed or acquired 3 -