No. 1834 establishing certain funds/accounts in connection with lease dated 11/1/93, as amended, between SBRC and SBRA for the Century Center project

Home Browse Search

RESOLUTION NO. 18V RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ESTABLISHING CERTAIN FUNDS AND ACCOUNTS IN CONNECTION WITH THE LEASE DATED AS OF NOVEMBER 1, 1993, AS AMENDED, BETWEEN THE SOUTH BEND REDEVELOPMENT COMMISSION AND THE SOUTH BEND REDEVELOPMENT AUTHORITY FOR THE CENTURY CENTER PROJECT WHEREAS, the South Bend Redevelopment Authority (the "Authority ") has been created pursuant to IC 36 -7 -14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South Bend to finance local public improvements for lease to the South Bend Redevelopment Commission (the "Commission "); WHEREAS, the Commission expects that the Authority will issue bonds in an aggregate principal amount not to exceed Seven Million and 00 /100 Dollars ($7,000,000.00) pursuant to IC 36- 7- 14.5 -19 and IC 5 -1 -5 to be known as the "South Bend Redevelopment Authority Lease Rental Revenue Refunding Bonds of 2001 (Century Center Project)" (the 'Bonds "), the proceeds of which are to be used to refund the South Bend Redevelopment Authority Lease Rental Revenue Bonds (Century Center Project) issued by the Authority in 1994, and to pay the costs of issuance of the Bonds; WHEREAS, the Authority previously entered into a lease between the Authority and 4L the Commission dated as of November 1, 1993, which lease was amended by the Addendum to Lease entered into between the Authority and the Commission and dated as of June 3, 1994, (collectively, the "Lease "), which Lease was heretofore approved by this Commission, and pursuant to which the Authority leases to the Commission certain improvements known as the Century Center;