No. 1030 establishing certain funds/accounts in connection with the lease dated 6/1/88 and as amended by an addendum thereto dated as of 11/1/91 between the SBRC and SBRA

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RESOLUTION NO. 1030 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ESTABLISHING CERTAIN FUNDS AND ACCOUNTS IN CONNECTION KITH THE LEASE DATED AS OF JUNE 1, 3.988 AND AS AMENDED BY AN ADDENDUM THERETO DATED AS OF NOVEMBER 1, 1991 BETWEEN THE SOUTH BEND REDEVELOPMENT COMMISSION AND THE SOUTH BEND REDEVELOPMENT AUTHORITY WHEREAS, the South Bend Redevelopment Authority (the "Authority ") has been created pursuant to IC 36 -7 -14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South Bend to finance local public improvements for lease to the South Bend Redevelopment Commission (the "Commission "); and WHEREAS, the Authority intends to issue bonds in the aggregate principal amount of Four Million Two Hundred Eighty Thousand Dollars ($4,280,000) pursuant to IC 36- 7- 14.5 -19 to be known as the "South Bend Redevelopment Authority Taxable Lease Rental Revenue Bonds (Coveleski Stadium Refunding)" (the "Taxable Bonds "), the proceeds of which are to be used to refund the South Bend Redevelopment Authority Taxable Lease Rental Revenue Bonds (Coveleski Stadium Project) issued by the Authority in 1988, and to pay the costs of issuance of the Taxable Bonds; and WHEREAS, the Authority previously entered into a lease between the Authority and the Commission dated as of June 1, 1988 (the "Lease "), which Lease was heretofore approved by this Commission, and pursuant to which the Authority leases to the Commission the land and stadium facility located thereon known as the "Stanley Coveleski Regional Stadium (the "Facility "); and