Approving an Official Concerning the City of South Bend Indiana Sewage Works Revenue Bonds of 1989

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Resolution No. A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA APPROVING AN OFFICIAL STATEMENT CONCERNING THE CITY OF SOUTH BEND, INDIANA SEWAGE WORKS REVENUE BONDS OF 1989 WHEREAS, on December 12, 1988, the Common Council of the City of South Bend, Indiana (the "Common Council ") adopted its Ordinance No. 7951 -88 authorizing and directing the Controller of the City of South Bend, Indiana (the "City ") to have prepared and to issue and sell sewage works revenue bonds designated as the "City of South Bend, Indiana, Sewage Works Revenue Bonds of 1989" (the 111989 Bonds ") in an aggregate principal amount of Nine Million Five Hundred Thousand and No /100 Dollars ($9,500,000.00), the principal of and interest on which are payable solely from the Sewage Works Sinking Fund to be provided from the net revenues of the sewage works of the City, including additions and improvements constructed or acquired by the use of the proceeds of the 1989 Bonds, and all additions and improvements thereto and replacements thereof subsequently constructed or acquired; and WHEREAS, the proceeds of the 1989 Bonds will be used to pay for the cost of acquiring and constructing those portions of the improvements to the South Bend Waste Water Treatment Plant not paid for with the proceeds of grants received from the United States Environmental Protection Agency and from the Indiana Department of Environmental Management pursuant to the provisions of IC 36 -9 -23 together with the expenses in connection with the issuance of the Bonds; and WHEREAS, an Official Statement (the "Official Statement ") relating to the issuance of the Bonds has been prepared by SPRINGSTED Incorporated as financial advisor to the City and presented to the Common Council, a copy of which is attached hereto as Exhibit "A"; NOW, THEREFORE, be it resolved by the Common Council of the City Of South Bend, Indiana that: 1. The Official Statement relating to the issuance of the 1989 Bonds is hereby approved in the form presented to the Common Council at this meeting and SPRINGSTED Incorporated is hereby authorized and directed to distribute such statement as substantially presented to this meeting, with such changes which are approved by the City's legal counsel as SPRINGSTED Incorporated might recommend to describe adequately such bond issue and information related to, to all parties who in their judgment may be interested in bidding on such bond issue and to the successful bidder for the 1989 Bonds; and the City Clerk -1-