HomeMy WebLinkAboutApproving an Official Concerning the City of South Bend Indiana Sewage Works Revenue Bonds of 1989RESOLUTION
NO. 1683 -88
Passed by the Common Council of the City of South Bend, Indiana
— December -i1, 19_$a--
Attest: /C l /S� City Clerk
Attest: I r le�- President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indian
December 22, 19 88.
Approved and signed by me _ C- Vj - a7_ 19
City Clerk
Mayor
Resolution No.
A RESOLUTION OF THE COMMON COUNCIL
OF THE CITY OF SOUTH BEND, INDIANA
APPROVING AN OFFICIAL STATEMENT CONCERNING
THE CITY OF SOUTH BEND, INDIANA SEWAGE WORKS
REVENUE BONDS OF 1989
WHEREAS, on December 12, 1988, the Common Council of the City of
South Bend, Indiana (the "Common Council ") adopted its Ordinance No.
7951 -88 authorizing and directing the Controller of the City of South
Bend, Indiana (the "City ") to have prepared and to issue and sell
sewage works revenue bonds designated as the "City of South Bend,
Indiana, Sewage Works Revenue Bonds of 1989" (the 111989 Bonds ") in an
aggregate principal amount of Nine Million Five Hundred Thousand and
No /100 Dollars ($9,500,000.00), the principal of and interest on
which are payable solely from the Sewage Works Sinking Fund to be
provided from the net revenues of the sewage works of the City,
including additions and improvements constructed or acquired by the
use of the proceeds of the 1989 Bonds, and all additions and
improvements thereto and replacements thereof subsequently
constructed or acquired; and
WHEREAS, the proceeds of the 1989 Bonds will be used to pay for
the cost of acquiring and constructing those portions of the
improvements to the South Bend Waste Water Treatment Plant not paid
for with the proceeds of grants received from the United States
Environmental Protection Agency and from the Indiana Department of
Environmental Management pursuant to the provisions of IC 36 -9 -23
together with the expenses in connection with the issuance of the
Bonds; and
WHEREAS, an Official Statement (the "Official Statement ")
relating to the issuance of the Bonds has been prepared by SPRINGSTED
Incorporated as financial advisor to the City and presented to the
Common Council, a copy of which is attached hereto as Exhibit "A";
NOW, THEREFORE, be it resolved by the Common Council of the City
Of South Bend, Indiana that:
1. The Official Statement relating to the issuance of the 1989
Bonds is hereby approved in the form presented to the Common Council
at this meeting and SPRINGSTED Incorporated is hereby authorized and
directed to distribute such statement as substantially presented to
this meeting, with such changes which are approved by the City's
legal counsel as SPRINGSTED Incorporated might recommend to describe
adequately such bond issue and information related to, to all parties
who in their judgment may be interested in bidding on such bond issue
and to the successful bidder for the 1989 Bonds; and the City Clerk
-1-
shall place a copy of such Official Statement, attached hereto as
Exhibit "A ", with the minutes of this meeting.
2. This Resolution shall be in full force and effect from
this date and upon compliance with the procedures required by law.
Adopted at a special meeting of the Common Council of the City of
South Bend, Indiana held on the 21st day of December, 1988, in the
Council chambers on the fourth floor of the County -City Building, 227
West Jefferson Boulevard, South Bend, Indiana 46601.
ember of the Common Council
Passed and adopted by the Common Council of the City of South
Bend on the day of , 1988,
Presiding Officer
Attest:
Irene K. Gammon, City Clerk
Presented by me to the Mayor of the City of South Bend on the
day of , 1988, at the hour of o'clock m.
of
Irene K. Gammon, City Clerk
This Resolution approved and signed by me on the day
, 1988, at the hour of o'clock M.
q" si
DEC 2 A 1988
-2-
PPESENTEti
NOT APPROVED
ADOPTED
f
Jo E. Kernan, Mayor