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RESOLUTION NO. 1494 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION APPROVING THE EXECUTION OF AN ADDENDUM TO <br />THE LEASE DATED AS OF JANUARY 15, 1997, BETWEEN THE SOUTH <br />BEND REDEVELOPMENT COMMISSION AND THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY FOR CERTAIN LAND AND PUBLIC <br />IMPROVEMENTS LOCATED THEREON <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority ") has been <br />created pursuant to IC 36 -7 -14.5 as a separate body, corporate and politic, and as an <br />instrumentality of the City of South Bend to finance local public improvements for lease to the <br />South Bend Redevelopment Commission (the "Commission "); and <br />WHEREAS, the Authority intends to issue bonds in an aggregate principal amount <br />not to exceed of Two Million Five Hundred Forty Thousand and 00 /100 Dollars ($2,540,000.00) <br />pursuant to IC 36- 7- 14.5 -19 to be known as the "South Bend Redevelopment Authority Lease <br />Rental Revenue Refunding Bonds of 1997 (Airport Economic Development Area Public <br />Improvement Project)" (the 'Bonds "), the proceeds of which are to be used to refund the South <br />Bend Redevelopment Authority Lease Rental Revenue Bonds (Airport Economic Development <br />Area Public Improvement Project) issued by the Authority in 1991, and to pay the costs of <br />issuance of the Bonds; and <br />WHEREAS, the Authority previously entered into a lease between the Authority <br />and the Commission dated as of August 1, 1990, which Lease was amended by the Addendum <br />to Lease entered into between the Authority and the Commission and dated as of January 29, <br />1991 (collectively, the "Lease "), which Lease was heretofore approved by this Commission, and <br />