HomeMy WebLinkAbout4A Resolution No. 2205 Authorizing Officer to Execute Certificate re Insurance
RESOLUTION NO. 2205
A RESOLUTION OF THE CITY OF SOUTH BEND BUILDING CORPORATION
AUTHORIZING AN OFFICER TO EXECUTE CERTIFICATES EVIDENCING
INSURANCE PERTAINING TO CURRENT AND FUTURE BONDS
WHEREAS, the City of South Bend Building Corporation (the “Corporation”) was
created by the City of South Bend, Indiana (the “City”), to finance local public improvements;
and
WHEREAS, the Corporation has issued certain bonds that remain outstanding as of the
date of this Resolution, which are known as the following (collectively, the “Bonds”):
City of South Bend Building Corporation First Mortgage Revenue Refunding
Bonds, Series 2012 (Police and Fire Stations Project);
City of South Bend Building Corporation First Mortgage Revenue Bonds, Series
2013 (Fire Station/Fire Training Center Projects);
City of South Bend Building Corporation Local Income Tax Lease Rental
Revenue Bonds, Series 2021 (Infrastructure Projects); and
WHEREAS, pursuant to the respective trust agreements governing the administration of
the Bonds, the Corporation is required annually to deliver to the trustee a certification that certain
insurance is provided for with respect to the projects financed by the Bonds; and
WHEREAS, the City, through its Department of Administration and Finance, maintains
the insurance necessary to comply with the Bonds’ insurance-related covenants; and
WHEREAS, in order to efficiently and timely present to the bond trustee evidence of
compliance with insurance-related covenants in connection with the currently outstanding Bonds
and any other bonds issued by the Corporation after the date of this Resolution, the Corporation
desires to establish and memorialize its procedure for documenting the City’s compliance with
such insurance-related covenants.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF SOUTH BEND
BUILDING CORPORATION AS FOLLOWS:
1. The Corporation acknowledges and confirms that the City, through its
Department of Administration and Finance, presently maintains and will continue to maintain the
insurance required under the governing documents of the Corporation’s current and future bonds.
2. The Corporation hereby authorizes any officer of the Corporation, upon a request
of the City Controller (or his or her designee) and without the necessity of a meeting of the
Corporation, to execute any appropriate certificate or other document confirming the
Corporation’s compliance with insurance requirements established by the governing documents
of any outstanding bonds.
3. This Resolution will be in full force and effect upon its adoption by the
Corporation.
ADOPTED at a meeting of the City of South Bend Building Corporation held on
March 31, 2022.
CITY OF SOUTH BEND BUILDING
CORPORATION
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