No. 2153 authorizing issuance of bonds of the SB redevelopment district for purpose of raising money for certain local public improvements in downtown medical services district allocation area

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unpaid obligations incurred in connection with the redevelopment and economic development in the Allocation Area and issuance of the Bonds shall be deposited into the Bond Principal and Interest Account and used solely for the purposes of that account. SECTION 8. As soon as can be done after the adoption of this Resolution, the President and the Secretary of the Commission are hereby directed to deliver on behalf of the Commission a certified copy of this Resolution to the Controller. SECTION 9. a. The Bonds may be sold (i) at public sale in accordance with I.C. 5- 3-1 or (ii) at a negotiated, private sale upon terms acceptable to the President of the Commission and the Controller. In no event shall the Bonds be sold at a purchase price of less than ninety-seven percent (97%) of the par value of the Bonds or such higher purchase price as may be set forth in the Issuer's Certificate. If the President of the Commission and the Controller determine to proceed with a negotiated sale of the Bonds, they shall set forth such determination in the Issuer's Certificate. The President of the Commission and the Controller are hereby authorized to enter into a bond purchase agreement for the sale of the Bonds on the terms and conditions set forth therein, consistent with the provisions of this Resolution. b. In the event that the Bonds are not sold via a negotiated sale, prior to the sale of the Bonds, the Controller shall cause to be published a notice of intent to sell bonds two times at least one week apart in the South Bend Tribune, the Tri-County News, and the Court and Commercial Record. The notice of such sale or a summary thereof may also be published in such other publications, in the discretion of the Controller. The notice must state that any person interested in submitting a bid for the Bonds may furnish in writing, at the address set forth in the notice, the person's name, address, and telephone number, and that any such person may also furnish a telex number. The notice must also state: (1) the amount of the Bonds to be offered; (2) the denominations; (3) the dates of maturity; (4) the maximum rate or rates of interest; (5) the place of sale; and (6) the time within which the name, address and telephone number must be furnished, which must not be less than seven (7) days after the last publication of the notice. Each person so registered shall be notified of the date and time bids will be received not less than twenty-four (24) hours before the date and time of sale. The notification shall be made by telephone at the number furnished by the person, and also by telex if the person furnishes a telex number. Such notice may also include such other information as the Controller shall deem necessary. Such notice shall also provide, among other things, that each bid shall be accompanied by a certified or cashier's check or a financial surety bond in an amount equal to one percent (M) of the principal amount of the Bonds to guarantee performance on the part of the bidder. Such notice shall provide further that, if a financial surety bond is used by the successful bidder, such bidder must submit the amount of the financial surety bond in the form of a certified or cashier's check or a wire transfer consisting of immediately available funds not later than 3:00 p.m. (local time) on the next business day following the award to the successful bidder by the City. Such notice shall provide further that, in the event the successful bidder shall fail or refuse to accept delivery of and pay for the Bonds as soon as the -20- BDDB01 40102160