Amending Ordinance No. 10346-15 Park Bond

Home Browse Search

issue of Additional Bonds, for each respective year during the term of such outstanding EDIT Bonds. In determining the other available revenues to be received in any future year, the Certifier shall base his calculation on estimates, believed by the Certifier to be reasonable, including without limitation estimates of investment earnings. For purposes of this paragraph, "Other Available Revenues" shall mean, to the extent such amounts have been set aside and designated for such purpose, amounts held in any debt service reserve accounts for outstanding EDIT Bonds, other than the proposed Additional Bonds. SECTION 3. Severability. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. SECTION 4. Original Ordinance Otherwise Unaffected. All other provisions of Original Ordinance No. 10346 -15 not affected by the Amendments set forth in Sections I and 2 of this ordinance shall remain in full force and effect. SECTION 5. Interpretation. Unless the context or law clearly requires otherwise, references herein to statutes or other laws include the same as modified, supplemented or superseded from time to time. SECTION 6. Effectiveness. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Member, South Bend Common Council ATTEST: John Voorde, City Clerk Presented by me to the Mayor of the City of South Bend, Indiana this day of iftk-evQ–� 2015, at l '�15— M. –� City Clerk Approved by me, Mayor of the City of South Bend, Indiana, this _,�M day of /VlarG h , 2015 �Q/ °M. , at S tst READING2,3 —Ir PUBLIC HEARING 3 A— 1 i 3 rd READING NOT APPROVED REFERRED PASSED € filed - d �s