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05-22-2017 Packet
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05-22-2017 Packet
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5/18/2017 3:17:10 PM
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i <br /> TRUST INDENTURE <br /> THIS TRUST INDENTURE dated as of the first day of June, 2017, by and between the <br /> CITY OF SOUTH BEND, INDIANA ("Issuer"), a municipality duly organized and existing <br /> under the laws of the State of Indiana and 1st Source Bank, a [national] banking and financial <br /> institution duly organized, existing and authorized to accept and execute trusts of the character <br /> herein set out under the laws of the State of Indiana, with a corporate trust office in the City of <br /> South Bend,Indiana, as Trustee("Trustee"); <br /> WITNESSETH: <br /> WHEREAS, Indiana Code, Title 36, Article 7, Chapters 11.9, -12, -14 and -25 <br /> (collectively, "Act"), authorize and empower the Issuer to issue revenue bonds and to lend the <br /> proceeds therefrom for the purpose of financing economic development facilities and vests such <br /> Issuer with powers that may be necessary to enable it to accomplish such purposes; and <br /> WHEREAS, in accordance with the provisions of the Act, the Issuer has induced <br /> RDistrict Two LLC, a limited liability company ("Developer"), to proceed with the reskinning <br /> and restoration of Building 84 and other related improvements and expenses, if any, related <br /> thereto of the hereinafter defined Studebaker Facilities ('Bond Project"), which is being <br /> undertaken in connection with the remediation and rehabilitation of the former Studebaker <br /> manufacturing facilities ("Studebaker Facilities"), in or physically connected to the hereinafter <br /> defined Area, by offering to issue its Taxable Economic Development Revenue Bonds, Series <br /> 2017 (Studebaker Project) in the aggregate principal amount of $3,500,000 ("Series 2017 <br /> Bonds") pursuant to this Trust Indenture and the provisions of the Financing and Covenant <br /> Agreement,dated as of June 1, 2017 ("Financing Agreement") for the purpose of paying costs of <br /> the Bond Project; and <br /> WHEREAS, the execution and delivery of this Indenture and the issuance of revenue <br /> bonds under the Act as herein provided have been in all respects duly and validly authorized by <br /> proceedings duly passed on and approved by the Issuer; and <br /> WHEREAS, after giving notice in accordance with the Act and IC 5-3-1-4, the Issuer <br /> held a public hearing, and upon finding that the Bond Project and the proposed financing thereof <br /> will create additional employment opportunities in City of South Bend, Indiana; will benefit the <br /> health, safety, morals, and general welfare of the citizens of the Issuer and the State of Indiana; <br /> and will comply with the purposes and provisions of the Act,adopted an ordinance approving the <br /> proposed financing; and <br /> WHEREAS, the Act provides that such bonds may be secured by a trust indenture <br /> between the Issuer and a corporate trustee; and <br /> WHEREAS, the execution and delivery of this Trust Indenture ("Indenture"), and the <br /> issuance of the Series 2017 Bonds hereunder have been in all respects duly and validly <br /> authorized by an ordinance duly passed and approved by the Issuer; and <br /> 1\1 1860514.2 <br />
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