No. 1065 amending Resolution No. 1054 and amending the resolutions unbder which tax incremnent bonds are outstanding

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-28- defeasance thereof in accord with the terms hereof, all pledges, covenants and other rights granted by this Resolution shall cease. Section 17. Amendment of Previous Resolutions. The Prior Resolutions by their terms authorize amendments thereto, without notice to or consent of the owners of the 1985 Bonds or the 1986 Bonds, to grant to or confer upon such owners additional security. This commission hereby finds that the refunding contemplated by this Resolution will provide additional security to such owners due to the debt service savings that will be accomplished from the refunding. Furthermore, the Prior Resolutions authorize amendments thereto, without notice to or consent of the owners of the 1985 Bonds or the 1986 Bonds, to cure any ambiguity or formal omission in the Prior Resolutions. Consistent with the foregoing provisions of this paragraph, the Commission hereby amends the Prior Resolutions to provide that additional bonds ranking on a parity with the 1985 Bonds and the 1986 Bonds may be issued, not only for the purpose of raising money for future property acquisition or redevelopment as now provided in the Prior Resolutions, but also for the purpose of providing for a complete or partial refunding of any bonds payable out of the tax proceeds allocated under Indiana Code Section 36-7-14-39 (b) (2) with respect to the Area. Similarly, the 1988 Resolution is amended in the same manner as set forth in the foregoing sentence, which the Commission deems'to also be in accord with Sections 22(b) and 22(f) of the 1988 Resolution, which authorize the commission to adopt supplemental resolutions without notice to or consent of the owners -28-