HomeMy WebLinkAboutUse of Surplus Bond Proceeds from Sewage Works Revenue Bonds of 1989Attest:
RESoOLUTION
NO. 293
Passed by the Common Council of the City of South Bend, Indiana
March 22, 93
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Clerk
Attest:J President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
March 23, 93
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City Clerk
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Approved and signed by me 19 -!3.
Mayor
RESOLUTION NO. 0200 7- %3
RESOLUTION OF THE COMMON COUNCIL OF THE CITY
OF SOUTH BEND REGARDING USE OF SURPLUS BOND
PROCEEDS FROM SEWAGE WORKS REVENUE BONDS OF 1989
WHEREAS, this Common Council adopted Ordinance No.
7951 -88, authorizing the issuance of the City's Sewage Works
Revenue Bonds of 1989, the proceeds of which were used to make
general improvements to the City's sewer utility; and
WHEREAS, the City Controller has made certifications
regarding surplus monies derived from bond proceeds and
investment earnings on bond proceeds; and
WHEREAS, this Common Council deems it advisable to use
said surplus and further investment earnings thereon for
additional improvements to the City's sewage works as more
particularly described on Exhibit A attached hereto.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, as follows:
1. That the determinations set forth in the
certifications of the Controller are hereby approved.
2. That the Common Council of the City of South Bend
hereby approves the use of said surplus and further investment
earnings thereon for the purposes as described on Exhibit A
attached hereto.
This Resolution shall be in full force and effect from
and after its passage and approval by the Mayor.
PRESENTED . ? 9.3
NOT APPROVED.
ADOPTED 3 _ a? -9,9
4r 67-4
Member, So Bend Common Council
Fled irg Clerk's Office
HAR i
EXHIBIT "A"
The engineering design work consisting of preliminary
engineering design, final construction drawings, preparation of
specification and bid packets, as well as appurtenant work for the
following public improvements:
The construction of a new storm water retention basin
immediately north of the Erskine Park golf course in the City of
South Bend, Indiana, the construction of a grassed waterway
through the Erskine Park golf course, and the construction of a
new storm water sewer within and along the Chippewa Avenue right
of way north of the Erskine Park golf course, all over, under and
upon property owned by the City of South Bend, Indiana and /or
right -of -way dedicated to the City of South Bend, Indiana for
such purposes.
CERTIFICATE
The undersigned, the duly acting Controller of the City
of South Bend, Indiana, hereby certifies as follows:
1. A surplus exists from bond proceeds and investment
earnings on bond proceeds in the City of South Bend Sewage Works
Construction Fund established under Ordinance No. 7951 -88,
adopted by the Common Council.
2. Said surplus, which is the amount in excess of the
amount needed to complete the projects contemplated by said
Ordinance, is in the amount of $520,000.00.
3. Said surplus was not anticipated at the time of the
issuance of the bonds authorized by the said Ordinance.
WITNESS my hand this 17th day of March, 1993.
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Kevin C. Orton
c:certificate