HomeMy WebLinkAboutDetermining that a purported remonstrance filed in opposition to the issuance and sale of general obligation bonds of the City of South Bend is legally insufficientRESOLUTION NO.Y %
RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND, INDIANA, DETERMINING THAT A PURPORTED
REMONSTRANCE FILED IN OPPOSITION TO THE ISSUANCE
AND SALE OF GENERAL OBLIGATION BONDS OF THE CITY
OF SOUTH BEND IS LEGALLY INSUFFICIENT
WHEREAS, an ordinance of the City of South Bend, Indiana,
authorizing the issuance and sale of bonds of said city in order
to provide funds for various purposes was passed by the Common
Council of the City of South Bend on January 12, 1981, said
ordinance being Ordinance No. 6881 -81,
WHEREAS, the City Clerk, as directed by said ordinance,
caused Notice of Petition for and Determination to Issue Bonds
to be posted in three (3) public places on January 16, 1981 and
published in two (2) newspapers on January 16, 1981 and January
23, 1981,
WHEREAS, said bond ordinance provides that in the event a
remonstrance is filed, no further steps toward the issuance of
said.bonds shall be taken until the Common Council shall take
action to determine that the remonstrance is insufficient,
WHEREAS, the law firm of Ice Miller Donadio and Ryan has
been retained by the City of South Bend as bond counsel and has
reviewed all proceedings and documents.filed involving the issuance
and sale of general obligation bonds by the City of South Bend,
WHEREAS, a verified remonstrance against the issuance and
sale of general obligation bonds as approved in said bond ordinance
was filed with the Clerk on February 16, 1981,
WHEREAS, the City Clerk delivered to the County Auditor on
February 17, 1981, said verified remonstrance for purposes of
certification by the Auditor,
WHEREAS, an Auditor's Certificate certifying the number of
remonstrators that are real property owners as required by Indiana
law was filed with the Clerk by the County Auditor on February
24, 1981,
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WHEREAS, the firm of Ice Miller Donadio and Ryan has determined
in a written opinion that said remonstrance should have included
an.Auditor's Certificate at the time of its filing with the Clerk
on February 16, 1981, which date was the last date for the filing
of a remonstrance under Indiana law,
WHEREAS, said law firm has determined that the remonstrance
filed in objection to the issuance and sale of general obligation
bonds is legally insufficient to constitute a remonstrance under
Indiana law,
WHEREAS, said law firm has determined that the Common Council
may continue proceedings for the issuance and sale of bonds as
approved in said bond ordinance,
NOW THEREFORE, BE IT RESOLVED by the Common Council of the
City of South Bend that:
SECTION 1. The remonstrance filed in opposition to the issuance
and sale of general obligation bonds by the City of South Bend is
legally insufficient.
SECTION 2. The City Controller, as authorized by said bond
ordinance, is directed to proceed with the issuance and sale,,of
said bonds.
SECTION 3. This resolution shall be in full force and effect
from and after its adoption by the Common Council and approval by
the Mayor.
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PRESENTED,
NOT AppROyED
ADOpTFA `j -4�7-q -e/
MEMBERS OF THE COMMON COUNCIL
FILED 14 CI.Eh"Us OFF CE
[AAR 18 19 81
Irene Gammon
CITY CLERK, SOUTH BEND, IND.