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3 <br />Mortgage- Section 8 Assisted Project) (the "Bonds ") , to be <br />secured by an Indenture of Trust (the "Bond Indenture "), from <br />the Corporation to St. Joseph Valley Bank, Elkhart, Indiana, <br />as Trustee (the "Bond Trustee "); and <br />WHEREAS, the Authority approves the general concept of <br />(1) the Articles of Incorporation and Bylaws of the Corpora- <br />tion, to be f iled with the Secretary of State of Indiana, (2) <br />certain other documents prepared and presented to this meet- <br />ing with regard to the proposed issuance of the Corporation's <br />Bonds to be issued for the purpose of paying the principal of <br />and interest on the Notes, funding a debt service reserve <br />fund and. certain costs of issuance with respect to the Proj- <br />ect, (3) documents prepared and presented to this meeting <br />with regard to the proposed issuance of the Corporation's <br />Notes to be issued for the purpose of paying the costs of <br />development and construction of the Project in anticipation <br />of release of the proceeds of the Bonds upon completion of <br />the Project and (4) resolutions and actions of the Corpora- <br />tion in selecting counsel to the Corporation and bond counsel <br />to assist in issuance, sale and delivery of the Notes and the <br />Bonds, and hereby authorizes its Chairman to review said <br />documents and approve them in final form on behalf of the <br />Authority; and <br />.z_- :W? RP_AS -8 . it is now .necessary and advisable- for_._the- <br />Members of the Authority to adopt this Resolution, as re- <br />quired by FEUD Regulations, 24 CFR, Part 811, Subpart A. to <br />enable the Corporation to proceed with the financing of and <br />the development of the Project: <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COI ✓i�IS -- <br />SIONEPS OF THE HOUSING AUTHORITY OF THE CITY OF SOUTH BEND, <br />INDIANA, THAT <br />SECTION 1. It is hereby found and determined that the <br />plan o the Corporation with respect to the Project, includ- <br />ing the Corporation's projected program and expenditures, as <br />submitted to HUD pursuant to 24 CFR, Part 811, Subpart A, <br />will tend to provide decent, safe and sanitary housing for <br />persons and familiies, including elderly and handicapped <br />persons, eligible for assistance under Section 8 of the Hous- <br />ing Act, and is hereby approved. <br />SEC'T'ION 2. The Articles of Incorporation and Bylaws of <br />the Corporation, organizational and other activities and <br />