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ORDINANCE NO. ~ ~ ~°~ -~~ <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF <br />SOUTH BEND, INDIANA, AMENDING ORDINANCE N0.9672-06 <br />ENTITLED "AN ORDINANCE OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE ACQUISITION <br />AND INSTALLATION OF CERTAIN IMPROVEMENTS TO THE CITY'S <br />SEWAGE WORKS, THE ISSUANCE AND SALE OF ADDITIONAL <br />REVENUE BONDS TO PROVIDE FUNDS FOR THE PAYMENT OF THE <br />COSTS THEREOF, AND THE COLLECTION, SEGREGATION AND <br />DISTRICT OF THE REVENUES OF SUCH SEWAGE WORKS AND <br />OTHER RELATED MATTERS" <br />The Common Council (the "Common Council") of the City of South Bend, Indiana <br />(the "City"), has previously adopted Ordinance No. 9672-06 on April 10, 2006 (the "Bond <br />Ordinance"), authorizing the issuance of multiple series of sewage works revenue bonds by the City <br />in an aggregate principal amount not to exceed Fifty-six Million Three Hundred Eighty Thousand <br />and 00/100 Dollars ($56,380,000.00) (the "Bonds"). The City issued its Sewage Works Revenue <br />Bonds of 2006 on June 6, 2006, pursuant to the Bond Ordinance and desires to issue another series <br />of such. bonds for additional improvements to the City's Sewage Works .pursuant to the Bond <br />Ordinance in the aggregate principal amount of Sixteen Million Six Hundred Thousand and 00/100 <br />Dollars ($16,600,000.00) (the "2007 Bonds") . <br />In 1998, the City issued its Sewage Works Revenue Bonds of 1998 pursuant to <br />Ordinance No. 8919-98 in the aggregate principal amount of Twenty-four Million Ninety-five <br />Thousand and 00/100 Dollars ($24,095,000.00) (the "1998 Bonds"). The City sold the 1998 Bonds <br />to the Indiana Bond Bank pursuant to the State of Indiana's (the "State") State Revolving Fund Loan <br />Program (the "SRF Program"). As a requirement of the SRF Program, the State requires that the <br />City obtain the approval of the State prior to issuing any additional bonds payable from the net <br />revenues of the City's Sewage Works. The City obtained such approval for the 2006 Bonds. When <br />the City asked for approval from the State for the issuance of the 2007 Bonds, the State indicated that <br />certain amendments to the Bond Ordinance would be required. <br />The Common Council desires to amend the Bond Ordinance to include certain <br />additional provisions relating to obtaining the consent of the Indiana Finance Authority as part of its <br />SRF Program prior to the issuance of additional sewage works revenue bonds authorized under the <br />Bond Ordinance and prior to taking certain other actions. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: <br />Section 1. The section of the Bond Ordinance labeled Section XVI. Additional <br />Bonds. shall be amended to include a new subsection (e), which will read as follows: <br />BDDBOI 4779285v1 <br />