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Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000
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Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000
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Last modified
5/15/2009 1:50:10 PM
Creation date
11/21/2008 3:58:33 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/28/2000
Ord-Res Number
9095-00
Bill Number
23-00
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STATE OF INDIANA <br />DRINKING WATER REVOLVING LOAN PROGRAM <br />FINANCIAL ASSISTANCE AGREEMENT made as of this _ day of , <br />1999 by and between the State of Indiana (the "State")acting by and through the State Budget <br />Agency (the "Budget Agency") and the City of South Bend, Indiana (the "Qualified Entity"), <br />a political subdivision as defined in I.C. 13-11-2-164, operating its water utility under I.C. 8- <br />1.5 et seq. , witnesseth: <br />WHEREAS, the State's Drinking Water Revolving Loan Program (the "Drinking <br />Water SRF Program")has been established in accordance with the federal Safe Drinking <br />Water Act and any regulations promulgated thereunder, and pursuant to I.C. 13-18-21 (the <br />"Drinking Water SRF Act" ), which Drinking Water SRF Act also establishes the drinking <br />water revolving loan fund (the "Drinking Water SRF Fund"); and <br />WHEREAS, the State is authorized pursuant to the Drinking Water SRF Act to fund <br />the Drinking Water SRF Program with federal capitalization grants, together with required <br />State matching funds, therefor; and <br />WHEREAS, the Indiana Bond Bank (the "Bond Bank")has had a longstanding <br />commitment to finance water quality and drinking water projects for qualified entities by <br />issuing its bonds, pursuant to I.C. 5-1.5 (the "Bond Bank Act")for the purpose of buying <br />securities of such qualified entities; and <br />WHEREAS, in keeping with its public purpose under the Bond Bank Act, the Bond <br />Bank intends to cooperate with the State in financing the Drinking Water SRF Program, <br />including the required State matching funds, and the political subdivisions' drinking water <br />projects and, to that end, the State intends to cooperate with the Bond Bank; and <br />WHEREAS, to finance the Drinking Water SRF Program, including the required State <br />matching funds, the Bond Bank has previously and will issue from time to time one or more <br />series of its State Revolving Fund Program Bonds; and <br />WHEREAS, the Qualified Entity is a duly existing political subdivision of the State, <br />lawfully empowered to undertake all transactions and execute all documents mentioned or <br />contemplated herein; and <br />WHEREAS, the Qualified Entity has previously entered into a Financial Assistance <br />Agreement with the State, dated as of December 30, 1998 (the "Prior Agreement"), to borrow <br />money fi•om the Wastewater SRF Program to construct and acquire a separate project (as <br />described and defined in the Prior Agreement); and <br />
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