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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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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
6/13/1977
Ord-Res Number
562-77
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due July 1, 1977, to and including July 1, 1986, (iii) the <br />redemption premiums which will be payable on January 1, 1986, <br />and July 1, 1986, and (iv) costs of refunding thereby pro- <br />curing the full release and discharge of the Trust Indenture <br />dated as of November 1, 1975, to The National Bank and Trust <br />Company of South Bend, Trustee, (hereinafter referred to as <br />the "1975 Trust Indenture ") pursuant to which the 1975 Bonds <br />were issued, all as provided by Article XIII of the 1975 <br />Trust Indenture; <br />NOW THEREFORE it is agreed by and between the Authority <br />and the City that the lease dated August 27, 1975, made and <br />executed between them (which lease was duly recorded in the <br />office of the Recorder of St. Joseph County, Indiana, on <br />November 21, 1975, and appears in Miscellaneous Record Book <br />295 at pages 102 to 123)shall be amended as follows effective <br />with the issuance and delivery by the Authority of the Civic <br />Center Refunding Bonds and the full release and discharge of <br />the 1975 Trust Indenture: <br />1. Section 9 of said lease dated August 27, 1975, is <br />amended by adding at the end thereof new paragraphs reading <br />as follows: <br />"Notwithstanding the foregoing provisions of <br />this Section 9 and the provisions of Section 10, <br />the lease rental payable on June 28, 1978, and semi- <br />annually thereafter on June 28 and December 28 dur- <br />ing the term of this lease shall be the lesser of: <br />(i) Two Hundred Twenty -eight Thou- <br />sand Dollars ($228,000), or <br />(ii) Two Thousand Five Hundred Dol- <br />lars ($2,500) plus an amount which when <br />added to (a) the amount then in the Sink- <br />ing Fund created by Section 4.01 of the <br />Trust Indenture dated as of June 1, 1977, <br />between the Authority and The National <br />Bank and Trust Company of South Bend, as <br />Trustee (hereinafter in this lease referred <br />to as the 11977 Trust Indenture') and (b) <br />-2- <br />
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