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

Home Browse Search

PRINCIPAL SUM: The City of South Bend, in St. Joseph County, State of Indiana, acting for and on behalf of the South Bend Redevelopment District (which District includes all of the territory within the corporation boundaries of the City of South Bend, Indiana) (the "Issuer ") for value received, hereby promises to pay to the Registered Owner hereof, upon surrender hereof, solely from allocated incremental taxes on real property and proceeds from the sale or leasing of property located in the South Bend Central Allocation Area of the District (the "Area ") and earnings thereon, the Principal Sum set forth above on the Maturity Date shown above, unless earlier redeemed, and to pay interest thereon, solely from such sources, until the principal is paid, at the per annum rate shown above (calculated on the basis of a 360 -day year of twelve 30 -day months) from the interest payment date to which interest has been paid next preceding the authentication date of this bond, unless this bond is authenticated after the fifteenth day of the month preceding an interest payment date and on or before such interest payment date in which case it shall bear interest from such interest payment date, or unless this bond is authenticated on or before January 15, 1993, in which case it shall bear interest from the Original Date, which interest is payable on the first day of each February and August, commencing February 1, 1993 until payment in full of this bond. Principal and premium, if any, of this bond are payable in lawful money of the United States of America at the principal office of Bank One, Indianapolis, National Association (the "Paying Agent "). Interest is payable by check or draft mailed one business day prior to the interest payment date to the registered owner hereof at his address as it appears on the registration books maintained for the Issuer by Bank One, Indianapolis, National Association (the "Registrar ") as of the 15th day of the month immediately preceding the interest payment date (the "Record Date ") , or at such other address as is furnished in writing by the registered owner to the Registrar prior to the Record Date for any interest payment. This bond does not constitute a general obligation or indebtedness of the City of South Bend but the same is a limited and special obligation of the South Bend Redevelopment District and is payable only out of allocated incremental taxes on real property and proceeds from the sale or leasing of property located in the Area and .—.