No. 1029 approving the execution of an addendum to the lease dated 6/1/88 between the SBRC and the SBRA for the Stanley Coveleski Regional Stadium facility

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RESOLUTION NO. 1029 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING THE EXECUTION OF AN ADDENDUM TO THE LEASE DATED AS OF JUNE 1, 1988 BETWEEN THE SOUTH BEND REDEVELOPMENT COMMISSION AND THE SOUTH BEND REDEVELOPMENT AUTHORITY FOR THE STANLEY COVELESRI REGIONAL STADIUM FACILITY 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