Setting of Public hearing on Lease for New Fire Station & Renovation of the Police Station

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RESOLUTION NO_ 31 F0 -03 RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, REGARDING THE SETTING OF A PUBLIC HEARING ON A LEASE FOR THE CONSTRUCTION AND EQUIPPING OF A NEW FIRE STATION AND THE RENOVATION AND EXPANSION OF THE POLICE STATION, AUTHORIZING THE PUBLICATION OF A NOTICE OF THE SAME, AND REGARDING CERTAIN RELATED MATTERS WHEREAS, the Common Council (the "Common Council ") of the City of South Bend, Indiana (the "City ") has determined that it is necessary to undertake certain improvements consisting of (i) the construction, erection, equipping and leasing of a fire station facility to be located on Michigan Street approximately one hundred fifty (150) feet from the intersection of Broadway and Michigan Street in the City, and (ii) the renovation and expansion of the Police Station located at 701 West Sample Street in the City (the 'Project "); and WHEREAS, the Common Council considers it necessary to pursue the financing of the Project by the issuance of lease rental revenue bonds by the City of South Bend Building Corporation (the 'Building Corporation ") payable solely from County Option Income Tax revenues and the lease of the Project from the Building Corporation to the City pursuant to IC 36 -1 -10; and WHEREAS, the Common Council desires to hold a public hearing regarding the determination to enter into such a lease to provide for the financing of the Project; and WHEREAS, the Common Council further desires to initiate a petition of taxpayers requesting the City enter into a lease of the Project with the Building Corporation; NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of South Bend, Indiana, as follows: 1. The Common Council hereby authorizes a hearing to be held by this Common Council pursuant to IC 36 -1 -10 for the purpose of receiving public input regarding the determination to enter into a lease for the purpose of completing a lease rental revenue financing of the Project. Such hearing shall be held at a regular meeting of the Common Council on April 28, 2003, at 7:00 p.m. (local time), in the Council Chambers, 4th Floor, County -City Building, South Bend, Indiana. 2. The Common Council hereby authorizes and directs the administrative staff of the City, with assistance from counsel, to provide notice of such hearing as required by law and to initiate the circulation of a petition of taxpayers requesting the City enter into a lease for the Project with the Building Corporation. SBIMANI 148303v2