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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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10963-23-Ordinance Authorizing the Acquisition and Construction of Certain Additions and Improvements to the Municipal Waterworks of the City of South Bend
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EXHIBIT B <br /> Form of Financial Assistance Agreement <br /> STATE OF INDIANA <br /> DRINKING WATER REVOLVING LOAN PROGRAM <br /> FINANCIAL ASSISTANCE AGREEMENT dated as of this [ day of <br /> 20 1 by and between the Indiana Finance Authority(the"Finance Authority"), a body politic and <br /> corporate, not a state agency but an independent instrumentality of the State of Indiana (the <br /> "State") and the City of South Bend, Indiana(the"Participant"), a political subdivision as defined <br /> in I.C. 5-1.2-2-57, operating its water utility under I.C. 8-1.5, witnesseth: <br /> WHEREAS, the State's Drinking Water Revolving Loan Program (the "Drinking Water <br /> SRF Program")has been established in accordance with the federal Safe Drinking Water Act and <br /> any regulations promulgated thereunder, and pursuant to I.C. 5-1.2-10 (the "Drinking Water SRF <br /> Act"),which Drinking Water SRF Act also establishes the drinking water revolving loan fund(the <br /> "Drinking Water SRF Fund"); and <br /> WHEREAS,pursuant to the Drinking Water SRF Act,the State was authorized to fund the <br /> Drinking Water SRF Program with federal capitalization grants, together with required state <br /> matching funds therefor, and to operate the Drinking Water SRF Program, and prior to May 15, <br /> 2005 so funded and operated the Drinking Water SRF Program; and <br /> WHEREAS, pursuant to Public Law 235 - 2005, by operation of law and effective May <br /> 15, 2005, the Finance Authority has become the successor to the State in all matters related to the <br /> Drinking Water SRF Program (including use and acceptance of federal capitalization grants and <br /> required state matching funds and operation of the Drinking Water SRF Program); and <br /> WHEREAS, the Participant is a duly existing political subdivision of the State, lawfully <br /> empowered to undertake all transactions and execute all documents mentioned or contemplated <br /> herein; and <br /> WHEREAS,the Participant has previously entered into a Financial Assistance Agreement <br /> with the Finance Authority, dated as of September 1, 2009, to borrow money from the Drinking <br /> Water SRF Program, to construct and acquire separate projects as described and defined therein <br /> (the"Prior Agreement"); and <br /> WHEREAS, the Participant has determined to undertake a drinking water system project <br /> (as more fully described herein,the"Project") and to borrow money from the Drinking Water SRF <br /> Program to construct and acquire the Project; and <br /> WHEREAS,the Finance Authority and the Participant desire to set forth the terms of such <br /> financial assistance as hereinafter provided; and <br /> NOW THEREFORE,in consideration of the mutual covenants herein set forth,the Finance <br /> Authority and the Participant agree as follows: <br /> ARTICLE I <br /> DEFINITIONS <br /> Section 1.01. Definitions. The following terms shall, for all purposes of this Agreement, <br /> have the following meaning: <br /> "Agency" shall mean the United States Environmental Protection Agency or its successor. <br /> "Asset Management Program" means programs, plans and documentation (including a <br /> Fiscal Sustainability Plan) that demonstrates that the Participant has the financial, managerial, <br /> technical, and legal capability to operate and maintain its Drinking Water System and which is <br /> consistent with SRF Policy Guidelines including applicable requirements of the Drinking Water <br /> SRF Act. <br /> B-1 <br />
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