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RESOLUTION NO. 1459 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION AUTHORIZING SUCH ACTIONS AS MAY BE <br />NECESSARY FOR THE SUBSTITUTION AND REPLACEMENT OF THE <br />CREDIT FACILITY FOR THE SOUTH BEND REDEVELOPMENT <br />AUTHORITY VARIABLE RATE DEMAND LEASE RENTAL REVENUE <br />BONDS OF 1994 (COLLEGE FOOTBALL HALL OF FAME PROJECT) <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority ") has been <br />created pursuant to I.C. 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 has previously issued its bonds pursuant to I.C. <br />36 -7- 14.5 -19 said bonds being known as the "South Bend Redevelopment Authority Variable Rate <br />Demand Lease Rental Revenue Bonds of 1994 (College Football Hall of Fame Project)" (the <br />'Bonds "), the proceeds of which were used to finance the costs of: (i) constructing the College <br />Football Hall of Fame and (ii) issuing of the Bonds (the "Project "); and <br />WHEREAS, the Bonds were issued pursuant to and secured by a Trust Agreement <br />entered into by and between the Authority and Norwest Bank Indiana, N.A., as trustee, dated as <br />of June 1, 1994 (the "Trust Agreement "); and <br />WHEREAS, the Authority and the Commission entered into a lease dated as of <br />November 1, 1993, as amended (the "Lease "), of the Project, which Lease was heretofore <br />approved by this Commission; and <br />