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SUBSTITUTE <br />RESOLUTION NO. Q3�3 / C� <br />15 <br />A RESOLUTION OF THE COMMON COUNCIL OF THE CITY <br />OF SOUTH BEND, INDIANA, CONCERNING THE <br />ACQUISITION BY LEASE OF CERTAIN EQUIPMENT ESSENTIAL <br />TO THE OPERATIONS OF THE CITY OF SOUTH BEND PARK DEPARTMENT <br />Whereas, the Common Council of the City of South Bend, Indiana <br />has determined that a true and very real need exists for the <br />acquisition of the Equipment described in the Master Equipment <br />Lease ( "Lease Agreement ") between 1st Source Bank ( "Lessor ") and <br />the City of South Bend, Indiana, for the use and benefit of its <br />Park Department ( "Lessee ") presented to the Common Council at the <br />meeting of the Common Council on the date noted hereinbelow; and <br />Whereas, the Common Council of the City of South Bend, <br />Indiana, has determined that the Board of Park Commissioners of the <br />City of South Bend, Indiana, has taken the necessary legal steps, <br />including satisfaction of any legal bidding requirements under <br />Indiana law, too arrange for the acquisition of the Equipment. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA, as follows: <br />1. That the terms of said Lease Agreement are in the best <br />interests of the City of South Bend, Indiana, for the use and <br />benefit of its Park Department, for the acquisition of such <br />Equipment, and the Common Council of the City of South Bend, <br />Indiana, designates and confirms the following persons to execute <br />and deliver, and to witness the execution and delivery, <br />respectively, the Lease Agreement and any related documents <br />necessary to the consummation of the transactions contemplated by <br />the Lease Agreement. <br />Party to Execute Lease Agreement: <br />Gwen Stiver, President <br />Board of Park Commissioners <br />Party to Attest to the Execution <br />of Lease: <br />Ronald O'Connor, Secretary <br />Board of Park Commissioners <br />2. That the Common Council of the City of South Bend hereby <br />represents that the reasonably anticipated amount of qualified tax — <br />exempt obligations which have been and will be issued by the City <br />of South Bend, Indiana, and by the City of South Bend Park District <br />does not, alone or in combination, exceed $10,000,000 for the <br />calendar year within which this Lease Agreement is to be a "tax <br />exempt obligation" pursuant to Section 265(b)(3) of the Internal <br />Revenue Code. <br />3. This Resolution shall be in full force and effect from and <br />after its adoption by the Common Council and approval by the Mayor. <br />L , <br />Membe , o Bend Common Council <br />PRESENTED /2 - /�. q <br />NOT APPROVED <br />ADOPTED 12--%/ / S t. iii':•l`Jd,.is� —." <br />Piled in Clerk's Office <br />OEC 1 8 1995 <br />IRENEOAMMON <br />C"CLERK,SOAEND,IN, ` <br />