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32-17 Economic Development Revenue Bonds (Studebaker Project)
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32-17 Economic Development Revenue Bonds (Studebaker Project)
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5/17/2017 1:41:10 PM
Creation date
6/7/2017 1:24:57 PM
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City Council - City Clerk
City Counci - Date
5/22/2017
Bill Number
32-17
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(ii) any sums required to reimburse Issuer or Developer for advances made by <br /> either of them subsequent to the date of inducement by the Issuer for any of the above <br /> items or for any other costs incurred and for work done by either of them which are <br /> properly chargeable to the Project. <br /> "Developer" means RDistrict Two LLC, a limited liability company duly organized, <br /> existing and authorized to do business under the laws of the State of Indiana, or any successors <br /> thereto permitted under Section 3.3 hereof. <br /> "Government Obligations" means direct obligations of, or obligations the timely payment <br /> of the principal of and the interest on which are fully and unconditionally guaranteed by, the <br /> United States of America. <br /> "Indenture" means the Trust Indenture dated as of June 1, 2017, between the Issuer and <br /> the Trustee and all amendments and supplements thereto. <br /> "Issuer" means the City of South Bend, Indiana, a municipality duly organized and <br /> validly existing under the laws of the State. <br /> "Net Proceeds," when used with respect to any insurance or condemnation award, means <br /> the gross proceeds from the insurance or condemnation award remaining after payment of all <br /> expenses (including attorneys' fees and expenses and any expenses of the Trustee or the Issuer) <br /> incurred in the collection of such gross proceeds. <br /> "Outstanding" or "Bonds Outstanding" means Bonds which have been duly authenticated <br /> and delivered by the Trustee under the Indenture, except: <br /> (i) Bonds canceled after purchase in the open market or because of payment at or <br /> redemption prior to maturity; <br /> (ii) Bonds for the redemption of which cash or investments (but only to the extent that <br /> the full faith and credit of the United States of America are pledged to the timely payment <br /> thereof) shall have been theretofore deposited with the Trustee (whether upon or prior to the <br /> maturity or redemption date of any such Bonds); provided that if such Bonds are to be redeemed <br /> prior to the maturity thereof, notice of such redemption shall have been given or arrangements <br /> satisfactory to the Trustee shall have been made therefor, or waiver of such notice satisfactory in <br /> form to the Trustee, shall have been filed with the Trustee; and <br /> (iii) Bonds in lieu of which others have been authenticated under Section 2.9 of the <br /> Indenture. <br /> "Project" means the reskinning and restoration of Building 84 and all related <br /> improvements and expenses related thereto (if any) which is being undertaken in connection with <br /> the remediation and rehabilitation of the former Studebaker manufacturing facilities. <br /> "Purchaser" means Regional Development Authority of Northern Indiana. <br /> -4 - <br /> 1\11853148.2 <br />
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