Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000

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ORDINANCE NO. O 1 An Ordinance of the Common Council of the City of South Bend, Indiana; Amending and Restating Ordinance No. 9027-99 Concerning the Construction of Improvements to the Municipal Waterworks of the City of South Bend, Indiana; Authorizing the Issuance of Revenue Bonds for such Purpose in the Principal Amount not to exceed Two Million Six Hundred Thousand Dollars ($2,600,000); Addressing Other Matters Connected Therewith, Including the Issuance of Notes in Anticipation of Bonds; and Repealing Ordinances Inconsistent Herewith STATEMENT OF PURPOSE AND INTENT The Common Council of the City of South Bend, Indiana (the "City") adopted Ordinance No. 9027-99 on August 23, 1999 (the "Original Ordinance") authorizing the issuance of bonds to pay for costs of the Project (as hereinafter defined). The Common Council (the "Council") of the City now desires to amend and restate the Original Ordinance through the adoption of the provisions of this ordinance (the "Amended Ordinance"). The City has heretofore established, constructed and financed a municipal waterworks and now owns and operates said works pursuant to I.C. 8-1.5, as amended, and other applicable laws (together, the "Act"). The City's Municipal Waterworks Utility is subject to the authority and regulation of the Indiana Utility Regulatory Commission ("IURC") and has not withdrawn from the ]URC's authority and regulation. The City will receive IURC approval prior to issuance of the 2000 Bonds (as hereinafter defined). The Council now finds that certain improvements to said works are necessary; and that plans, specifications and estimates have been prepared and filed by the engineers employed by the City for the acquisition and construction of said improvements (as described more fully on in Exhibit A) (the "Project"), which plans and specifications or other pertinent information have been or in a timely fashion will be submitted to all government authorities having jurisdiction, particularly the Indiana Department of Environmental Management ("IDEM"), if and to the extent IDEM approval is required under Indiana law, and have been or will be approved by the aforesaid government authorities and are hereby incorporated herein by reference and open for inspection at the office of the clerk of the City as required by law.