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RESOLUTION NO. 2956
<br />A SUPPLEMENTAL BOND RESOLUTION OF THE CITY OF SOUTH BEND
<br />REDEVELOPMENT COMMISSION, SUPPLEMENTING AND AMENDING
<br />RESOLUTION NO. 1965, ADOPTED ON MARCH 21, 2003, AS PREVIOUSLY
<br />SUPPLEMENTED AND AMENDED BY RESOLUTION NO. 2004, ADOPTED ON
<br />SEPTEMBER 5, 2003, AND BY RESOLUTION NO. 2017, ADOPTED ON NOVEMBER
<br />7, 2003, ALL FOR THE PURPOSE OF AUTHORIZING THE MODIFICATION OF
<br />CERTAIN CONTRACTUAL RIGHTS, THE EXECUTION AND DELIVERY OF ITS
<br />CITY OF SOUTH BEND, INDIANA, REDEVELOPMENT DISTRICT AMENDED
<br />TAX INCREMENT REVENUE BONDS, SERIES 2003 (AIRPORT ECONOMIC
<br />DEVELOPMENT AREA), AND REGARDING CERTAIN RELATED MATTERS
<br />WHEREAS, the City of South Bend Redevelopment Commission (the "Commission "),
<br />governing body of the City of South Bend, Indiana, Redevelopment District (the "District "),
<br />exists and operates under the provisions of Indiana Code 36 -7 -14, as amended, and Indiana Code
<br />36 -7 -25, as amended (collectively, the "Act "); and
<br />WHEREAS, on December 30, 2003, the Commission, acting in the name of the City of
<br />South Bend, Indiana (the "City "), issued its bonds designated as the "City of South Bend,
<br />Indiana, Redevelopment District Tax Increment Revenue Bonds, Series 2003 (Airport Economic
<br />Development Area)" in the original aggregate principal amount of $14,420,000 (the "Original
<br />2003 AEDA Bonds "), which are payable from property taxes generated in the Airport Economic
<br />Development Area previously established by the Commission and allocated in accordance with
<br />Indiana Code 36- 7- 14 -39, as amended, in order to provide funds to pay for the costs of certain
<br />public road infrastructure improvements, all pursuant to Resolution No. 1965, adopted by the
<br />Commission on March 21, 2003, as supplemented and amended by Resolution No. 2004,
<br />adopted by the Commission on September 5, 2003, as further supplemented and amended by
<br />Resolution No. 2017, adopted by the Commission on November 7, 2003 (collectively, the
<br />"Original Resolution "); and
<br />WHEREAS, as of the date hereof, the Original 2003 AEDA Bonds are outstanding in the
<br />aggregate principal amount of $10,435,000; and
<br />WHEREAS, pursuant to the terms of the Original 2003 AEDA Bonds and the Qualified
<br />Entity Purchase Agreement, dated December 17, 2003 (the "Original Purchase Agreement "), by
<br />and among the Commission, the City and the Indiana Bond Bank (the "Bond Bank "), the
<br />Original 2003 AEDA Bonds maturing on or after February 1, 2013, are subject to redemption
<br />prior to maturity, at the option of the Commission, in whole or in part, on any date on or after
<br />August 1, 2012 (as may be determined by the Commission), at a redemption price equal to the
<br />principal amount of the Original 2003 AEDA Bonds to be redeemed, plus accrued interest to the
<br />redemption date, and without any redemption premium (the "Call Rights "); and
<br />WHEREAS, the Bond Bank previously issued its Indiana Bond Bank Special Program
<br />Bonds, Series 2003 E (South Bend TIF Districts), dated December 30, 2003, in the aggregate
<br />principal amount of $36,530,000 (the "Prior Bond Bank Bonds "), for the purpose of providing
<br />INDS01 B1B 13017850
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