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Authorizing the Issuance of Revenue Bonds re: improvements to the Waterworks, not to exceed Twenty-Two Million Five hundred thousand dollars (22,500,000); including the issuance of notes in anticipation of Bonds.
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Authorizing the Issuance of Revenue Bonds re: improvements to the Waterworks, not to exceed Twenty-Two Million Five hundred thousand dollars (22,500,000); including the issuance of notes in anticipation of Bonds.
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9/24/2009 2:28:11 PM
Creation date
7/27/2009 3:45:48 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/23/1997
Ord-Res Number
8801-97
Bill Number
52-97
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REGISTRAR'S CERTIFICATE OF AUTHENTICATION <br />It is hereby certified that this bond is one of the bonds described in the <br />within-mentioned Ordinance duly authenticated by the Registrar. <br />as Registrar <br />By <br />Authorized Representative <br />This bond is one of an authorized issue of bonds of the City of South Bend, <br />Indiana, of like date, tenor and effect, except as to denomination, numbering, rates <br />of interest, redemption terms and dates of maturity, aggregating <br />Dollars ($~, <br />numbered consecutively from 1 upward (the "Bonds"), issued for the purpose of <br />providing funds to be applied on the cost of improvements to the City's waterworks <br />(the "Project"), to refund interim notes issued in anticipation of the Bonds, to fund <br />a debt service reserve, and to pay incidental expenses and costs of issuance of the <br />Bonds. This bond is issued pursuant to an ordinance adopted by the Common <br />Council of said City on the 23rd day of June, 1997, entitled "An Ordinance of the <br />Common Council of the City of South Bend, Indiana concerning the construction <br />of improvements to the municipal waterworks of the City of South Bend, Indiana; <br />authorizing the issuance of revenue bonds for such purpose in the principal amount <br />not to exceed twenty-two million five hundred thousand dollars ($22,500,000); <br />addressing other matters connected therewith, including the issuance of notes in <br />anticipation of bonds; and repealing ordinances inconsistent herewith" (the <br />"Ordinance"), and in accordance with the provisions of Indiana law, including <br />without limitation Indiana Code 8-1.5, and other applicable laws, as amended (the <br />"Act"), all as more partic~ilarly described in the Ordinance. The owner of this <br />bond, by the acceptance hereof, agrees to all the terms and provisions contained <br />in the Ordinance and the Act. <br />Pursuant to the provisions of the Act and the Ordinance, the principal of <br />and interest on this bond and all other bonds of said issue, the Parity Bonds (as <br />hereinafter defined), and any bonds hereafter issued on a parity therewith are <br />payable solely from the Sinking Fund (the "Sinking Fund") maintained under the <br />Ordinance to be provided from the Net Revenues (defined as the gross revenues of <br />the works remaining after the payment of the reasonable expenses of operation, <br />repair and maintenance) of the works, including all additions and improvements <br />thereto and replacements thereof subsequently constructed or acquired. <br />-11- <br />
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