No. 1124 amending resolution No. 1118 entitled "authorizing the issuance of bonds on parity with the COSB redevelopment district tax increment revenue bonds of 1985, 1985, 1988 for the purpose of raising money for redevelopment in the SBCAA"

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SECTION 10. The Bonds shall be sold by private negotiated sale, as provided by IC 36- 7- 14- 25.1(g), to the purchaser or purchasers at a price of par in accordance with the Purchase Agreement. The President or Vice - President of the Commission is hereby authorized to execute and deliver the Purchase Agreement substantially in the form attached hereto as Exhibit E, together with such changes and modifications as may be approved by the President or Vice - President (with execution by the President or Vice - President to be conclusive evidence of such approval) , based upon the recommendation of the financial advisor to the Commission with respect to the interest rate on the Bonds and other matters contained therein. The President or Vice - President is further authorized to carry out, on behalf of the City and Commission, the terms and conditions set forth in the Purchase Agreement consistent with the provisions of this Resolution. Section 4. The Final Bond Resolution is further amended to add Section 1.1 as follows: Section 1.1. In anticipation of the issuance and sale of the Series 1992 Bonds authorized herein, and to provide interim financing to apply to the cost of the Project, the Controller is hereby authorized and directed to have prepared and to issue and sell to the Indiana Bond Bank (the "Bond Bank ") negotiable BANs of the Redevelopment District, in an amount not to exceed Two Million Nine Hundred Thousand Dollars ($2,900,000), to be designated "City of South Bend Redevelopment District Tax Increment Revenue Bond Anticipation Notes of 1992." The BANS shall be issued in fully registered form, shall be numbered consecutively from 92R -1 upwards, shall be issued in denominations of One Hundred Thousand Dollars ($100,000) or integral multiples thereof, shall be dated as of the date of issuance of the BANs, and shall bear / interest at a rate or rates not exceeding ercen S/ k p 00 %) per annum (the exact rate of interest to be determined under the terms of a bond anticipation note purchase agreement between the Indiana Bond Bank (the "Bond Bank ") and the Commission to be entered into prior to the sale of the BANs to the Bond Bank), payable on February 1 and August 1, commencing on the February 1 or August 1 which immediately follows the date of delivery of the BANs. The BANs may be sold at a discount not exceeding one percent (1.00 %) of the par amount thereof. The initial BANs delivered will mature on December 31, 1994. Each subsequent BAN delivered will bear the same maturity date as the initial BANs. The BANs shall be subject to renewal or extension, subject to the 4