HomeMy WebLinkAboutTransfer of Jurisdiction to St Joseph Co Indiana Variable Rate Health Care Facility BondsAttest:
RESOLUTION
NO. 2908 -00
Passed by the Common Council of the City of South Bend, Indiana
July 24, 2C
Presented by me to the Mayor of the City of South Bend, Indiana
July 25, 2000
City Clerk
President of Common Council
Approved and signed by me —) UN- Zb 20 Ld .
City Clerk
RESOLUTION NO. 2-90&-00
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND CONSENTING TO THE TRANSFER OF
JURISDICTION TO ST. JOSEPH COUNTY, INDIANA
REGARDING ECONOMIC DEVELOPMENT FACILITIES AND
THE ISSUANCE OF COUNTY OF ST. JOSEPH, INDIANA MULTI -MODE
VARIABLE RATE HEALTH CARE FACILITY BONDS, SERIES 2000(SOUTH BEND
MEDICAL FOUNDATION PROJECT)TO FINANCE SAID FACILITIES
WHEREAS, the City of South Bend, Indiana (the "City "), is a municipal corporation and
political subdivision of the State of Indiana and by virtue of IND. CODE § 36- 7 -12 -22 is authorized
and empowered to adopt this Resolution; and
WHEREAS, South Bend Medical Foundation, Inc., ( "Medical Foundation'), an Indiana not-
for- profit corporation with principal offices located in South Bend, Indiana, presently intends to
finance:
(i) the construction, expansion, renovation, improvement and equipping of the Medical
Foundation's existing clinical laboratory, blood bank, administrative and other
offices, mechanical systems, and other health care facilities, including site and
infrastructure improvements, all located or to be located on the campus of the
Medical Foundation in the City of South Bend at 530 North Lafayette Boulevard, and
which comprise "economic development facilities" within the meaning of IND.
CODE § 36- 7- 11.9 -3 through the issuance of economic development revenue bonds
pursuant to the provisions of IND. CODE § 36 -7 -12 et sue., as amended (the
"ACT "), and
(ii) the refunding of the St. Joseph County, Indiana Economic Development Revenue
Bonds (South Bend Medical Foundation, Inc. Project), Series 1996, dated as of
December 1, 1996 (the "Prior Bonds "); and
WHEREAS, there is a need to construct, expand, renovate, improve and equip the
Foundation's health care facilities, and in connection therewith, to refund the Prior Bonds; and
WHEREAS, due to the county-wide services provided by said health care facilities, the
Common Council of the City of South Bend wishes to transfer jurisdiction over said facilities and
the financing thereof pursuant to the Act to St. Joseph County. IND. CODE § 36- 7- 12 -22(b)
provides in relevant part that "... economic development facilities that are to be located within the
corporate boundaries of a municipality may not be financed by a County without the consent of the
fiscal body of the municipality ...."
Now, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, THAT the Common Council consents, pursuant to the provisions of IND. CODE
§ 36- 7- 12- 22(b), to the construction, expansion, renovation, improvement and equipping of said
health care facilities and, in connection therewith, the refunding of the Prior Bonds, by St. Joseph
County, Indiana and its Economic Development Commission, and jurisdiction with respect thereto
is hereby transferred to St. Joseph County, Indiana.
This Resolution shall be in full force and effect immediately upon its adoption by the
Common Council and approval by the Mayor.
Dated this day of
SBDS02 ABF 204130vl
NOT APPROVED
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2000.
C �� � if=4
Member, South Bend Co o Council
Filed In Cierk`s Office
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