HomeMy WebLinkAbout03-18 Appropriating of Bonds, Series 2018 �W Ill /;/.
120ON COUNTY-CITY BUILDING `��' 1�J PHONE 574/235-9822
227 W.JEFFERSON BLVD. FAX 574/235-9928
SOUTH BEND, INDIANA 46601-1830
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x Filed in Clerk's Office
JAN 0 2 2016
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR h KAREEMAH FOWLER
DEPARTMENT OF ADMINISTRATION AND FINANCE-_7 RK,SOUTH BEND,IN
January 2, 2018
Mr. Tim Scott
President, South Bend Common Council
227 W. Jefferson Blvd., Suite 400 S
South Bend, Indiana 46601
RE: AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, APPROPRIATING THE PROCEEDS OF THE CITY OF
SOUTH BEND GENERAL OBLIGATION BONDS, SERIES 2018
Dear Council President Scott:
Attached for filing, please find the above-referenced ordinance for first reading by the
Common Council at its January 8, 2018 meeting, and for public hearing on January 22, 2018.
This ordinance authorizes the appropriation of a sum not to exceed Five Million Four
Hundred Thirty Thousand Dollars ($5,430,000), out of the proceeds of sale of the general
obligation bonds described in the general obligation bond ordinance filed contemporaneously with
this ordinance,for the purpose of providing the payment of costs and expenses for the construction
of a new Fire Station 9 at the corner of Mishawaka Avenue and 21 st Street, and the construction
of an additional classroom building on the grounds of the Luther J.Taylor Sr.Fire Training Center.
Randy Rompola of Barnes & Thornburg LLP and Herschel Frierson of Crowe Horwath
LLP will be presenting this ordinance to the Common Council, and I will be in attendance along
with representatives of the South Bend Fire Department. Your favorable consideration is
requested. Please do not hesitate to contact me if you need additional information.
Sincerely,
0""IUG.0
Jennifer Hockenhull, Controller
Department of Administration and Finance
Excellence I Accountability I Innovation I Inclusion I Empowerment
Q W
Filed in Clerk's Office
Bill No.
JAN 0 2 2018
KAREEWIAH-=01NLER
ORDINANCE NO. CITYC!.ERK.SOUTH SEND,IN
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANA,
APPROPRIATING THE PROCEEDS OF THE CITY OF SOUTH BEND
GENERAL OBLIGATION BONDS, SERIES 2018
STATEMENT OF PURPOSE AND INTENT
WHEREAS,the Common Council(the"Council")of the City of South Bend,Indiana(the
"City"),has,on January 22,2018,adopted an ordinance,the provisions of which are hereby included
herein by this reference thereto, determining to issue general obligation bonds of the City in an
original aggregate principal amount of not to exceed Five Million Four Hundred Thirty Thousand
Dollars ($5,430,000) (the "Bonds"), for the purpose of providing funds for undertaking (i)
replacement of current Fire Station 9 with a newly constructed station at the corner of Mishawaka
Avenue and 21 st Street in the City which new station would be approximately 10,000 square feet and
would house Engine 9,Medic 9,and Boat 2 and accommodate up to 7 assigned firefighters per day
and (ii) construction of an additional classroom building on the grounds of the Luther J Taylor Sr.
Fire Training Center which proposed building would be an approximately 3,000 square foot building
and would house a rugged, divisible classroom with capacity for 100 personnel and additional
training props and storage areas (collectively,the"Projects") in the City; and
WHEREAS,the Council did not include the proceeds of the Bonds in the regular budget for
the City for the year 2018; and
WHEREAS, there are insufficient funds available or provided for in the City's existing
budget and tax levy which may be applied to the cost of the Project, and the issuance of the Bonds
has been authorized to procure the necessary funds and an extraordinary emergency and necessity
exists for the making of the additional appropriation set out herein; and
WHEREAS,the City has caused notice of a hearing on said appropriation to be published as
required by law; and
WHEREAS,such public hearing was held on January 22,2018,at 7:00 p.m.(local time)in
the Common Council Meeting Room,4"'Floor of the County-City Building in South Bend,Indiana,
on said appropriation at which all taxpayers and interested persons had an opportunity to appear and
express their views regarding such additional appropriation.
NOW,THEREFORE,BE IT ORDAINED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND,INDIANA,AS FOLLOWS:
Section I. There is hereby appropriated a sum not to exceed Five Million Four Hundred
Thirty Thousand Dollars ($5,430,000), out of the proceeds of the Bonds received by the City in
connection with the sale of the Bonds,together with any premium paid by the original purchasers of
the Bonds and all investment earnings thereon,for use by the City in paying the cost of the Project,
together with any expenses incidental thereto, capitalized interest on the Bonds, if any, funding a
debt service reserve fund, if necessary, and the issuance costs of the Bonds.
Section II. Such appropriation shall be in addition to all appropriations provided for in
the existing budget and levy, and shall continue in effect until the completion of the Project. Any
surplus of such proceeds shall be credited to the proper fund as provided by law.
Section IV. A certified copy of this ordinance,together with such other proceedings and
actions as may be necessary, shall be filed by the Controller of the City, along with a report of the
appropriation, with the Indiana Department of Local Government Finance.
Section V. Any and all prior actions taken by any officer of the City or member of the
City in connection and consistent with this ordinance are hereby ratified and approved.
Member of the Common Council
Attest:
Kareemah Fowler, City Clerk
Presented by me,the undersigned Clerk of the City of South Bend,to the Mayor of the City
of South Bend,Indiana on the day of ,2018,at o'clock
M.
Kareemah Fowler, City Clerk
Approved and signed by me on the day of , 2018, at_o'clock
.m.
Pete Buttigieg, Mayor
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