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0 WHEREAS, the Commission expects that any Bonds that may be issued will not <br />exceed an aggregate principal amount of Two Million Eight Hundred Thousand and 00/100 Dollars <br />($2,800,000.00); and <br />WHEREAS, Commission desires to declare its official intent, pursuant to <br />I.C. 5-1-14-6(b) and §1.1.50-2 of the Treasury Regulations promulgated by the Internal Revenue <br />Service (the "Treasury Regulations"), that said preliminary costs be reimbursed from the proceeds <br />of the Bonds when and if issued; <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />The Commission hereby declares its official intent, pursuant to I.C. 5-1-14-6(b) and <br />§1.150-2 of the Treasury Regulations, that costs incurred by or on behalf of the Commission in <br />financing the Improvements be reimbursed from the proceeds of the Bonds when and if issued. <br />0 2. This resolution shall be in full force and effect from and after its adoption <br />• <br />by the Commission. <br />13DDB01 4253847v1 <br />