My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
No. 1904 authorizing the issuance of bonds of the SB Redevelopment District for the purpose of raising money for Redevelopment and Economic Development in the SEDA (TJX)
sbend
>
Public
>
Redevelopment Commission
>
Resolutions
>
No. 1904 authorizing the issuance of bonds of the SB Redevelopment District for the purpose of raising money for Redevelopment and Economic Development in the SEDA (TJX)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/18/2012 2:03:02 PM
Creation date
8/16/2011 2:32:25 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
25
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
b. The remaining proceeds from the sale of the Bonds shall be <br />deposited in a special fund to be designated as the "South Bend Redevelopment District <br />Sample/Ewing Allocation Area Capital Fund" (the "Capital Fund "). <br />SECTION 7. Proceeds of the Capital Fund shall be deposited with a legally <br />qualified depository or depositories for funds of the City as now provided by law and shall be <br />segregated and kept separate and apart from all other funds of the City and may be invested as <br />permitted by law. The proceeds in the Capital Fund shall be expended only for the purpose of <br />paying the cost of redevelopment and economic development in the Area, together with a sum <br />sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the <br />redevelopment and economic development of the Area, including the total cost of all reasonable <br />and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount <br />and supervisory expenses, and expenses the Commission may be required, together with the <br />expenses in connection with or on account of the issuance of the Bonds. Any balance or <br />balances remaining in the Capital Fund after the completion of redevelopment and economic <br />development in the Area which are not required to meet unpaid obligations incurred in <br />connection with the redevelopment and economic development in the Area and issuance of the <br />Bonds shall be deposited into the Bond Principal and Interest Account and used solely for the <br />purposes of that account.. <br />SECTION 8. As soon as can be done after the adoption of this Resolution, the <br />President and the Secretary of the Commission are hereby directed to deliver on behalf of the <br />Commission a certified copy of this Resolution to the Controller. <br />SECTION 9. <br />a. The Bonds may be sold (i) at public sale in accordance with I.C. 5- <br />3-1 or (ii) at a negotiated, private sale upon terms acceptable to the President of the <br />Commission and the Controller. In no event shall the Bonds be sold at a purchase price <br />of less than ninety -seven percent (97 %) of the par value of the Bonds or such higher <br />purchase price as may be set forth in the Issuer's Certificate. If the President of the <br />Commission and the Controller determine to proceed with a negotiated sale of the Bonds, <br />they shall set forth such determination in the Issuer's Certificate. The President of the <br />Commission and the Controller are hereby authorized to enter into a bond purchase <br />agreement for the sale of the Bonds on the terms and conditions set forth therein, <br />consistent with the provisions of this Resolution. <br />b. In the event that the Bonds are not sold via a negotiated sale, prior <br />to the sale of the Bonds, the Controller shall cause to be published a notice of intent to <br />sell bonds two times at least one week apart in the Court and Commercial Record, the <br />Tri- Counter and the South Bend Tribune. The notice of such sale or a summary <br />thereof may also be published in such other publications, in the discretion of the <br />Controller. The notice must state that any person interested in submitting a bid for the <br />Bonds may furnish in writing, at the address set forth in the notice, the person's name, <br />address, and telephone number, and that any such person may also furnish a telex <br />number. The notice must also state: (1) the amount of the Bonds to be offered; (2) the <br />denominations; (3) the dates of maturity; (4) the maximum rate or rates of interest; (5) the <br />-18- <br />SBIMANI 130621v1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.