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Approving the amendment to lease between the City of South Bend and South Bend Civic Center Building
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Approving the amendment to lease between the City of South Bend and South Bend Civic Center Building
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4/25/2017 4:30:28 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
6/13/1977
Ord-Res Number
562-77
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AMENDMENT TO LEASE <br />Between <br />SOUTH BEND CIVIC CENTER BUILDING AUTHORITY <br />AND <br />CITY OF SOUTH BEND, INDIANA <br />WHEREAS, South Bend Civic Center Building Authority, a <br />body corporate and politic organized and existing under Indiana <br />Code 1971, 19 -7 -18.5, (hereinafter called "Authority "), and <br />City of South Bend, Indiana, (hereinafter called "City "), did <br />heretofore on the 27th day of August, 1975, enter into a lease <br />as authorized by Indiana Code 1971, 19 -7 -18.5, which lease was <br />duly recorded in the office of the Recorder of St. Joseph <br />County, Indiana, on November 21, 1975, and appears in Miscel- <br />laneous Record Book 295 at pages 102 to 123; and <br />WHEREAS, the Authority, in 1975, <br />Bonds in the amount of Five Million Th <br />sand Dollars ($5,390,000) (hereinafter <br />Bonds ") and is constructing facilities <br />center on the leased premises with the <br />Bonds; and <br />issued its Civic Center <br />ree Hundred Ninety Thou - <br />referred to as the "1975 <br />to be used as a civic <br />proceeds of said 1975 <br />WHEREAS, Authority now desires to refund said 1975 Bonds <br />outstanding as authorized by Indiana Code 5 -1 -5 (hereinafter <br />referred to as the "Act "), and thereby obtain a substantial sav- <br />�ing and reduction in interest costs and also permit a reduction <br />in the lease rental payments as hereinafter provided; and <br />WHEREAS, the Authority has, by due corporate action, de- <br />termined to borrow the sum of Eight Million Four Hundred Eighty - <br />five Thousand Dollars ($8,485,000) and to execute and issue <br />therefor its Civic Center Refunding Bonds pursuant to a Trust <br />Indenture dated as of June 1, 1977, between the Authority and The <br />National Bank and Trust Company of South Bend, as Trustee, <br />(hereinafter referred to as "1977 Trust Indenture ") which Civic <br />Center Refunding Bonds are being issued for the purpose of pro- <br />viding for the payment of (i) the principal amount of the 1975 <br />Bonds outstanding, (ii) the interest payable on the 1975 Bonds <br />
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