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No. 0958 a final bond resolution of the SBRC authorizing the issuance of the COSB redevelopment district tax increment revenue bonds of 1990 for purpose of raising money for property acquisition/redevelopment in the AEDA allocation area No. 1
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No. 0958 a final bond resolution of the SBRC authorizing the issuance of the COSB redevelopment district tax increment revenue bonds of 1990 for purpose of raising money for property acquisition/redevelopment in the AEDA allocation area No. 1
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In the manner provided in the Resolution, the Resolution <br />and the rights and obligations of the Commission and of the owners <br />of the bonds may (with certain exceptions as stated in the <br />Resolution) be modified or amended with the consent of the owners <br />of at least sixty percent (60 %) in aggregate principal amount of <br />outstanding bonds exclusive of bonds, if any, owned by the <br />Commission or the City. Additional bonds ranking on a parity with <br />the bonds authorized by the Resolution and other bonds, junior to <br />the bonds authorized by the Resolution, may be issued in accordance <br />with the terms of the Resolution. <br />The bonds maturing in any one year are issuable only in <br />fully registered form in the denomination of Five Thousand Dollars <br />($5,000.00) or any integral multiples thereof not exceeding the <br />aggregate principal amount of the bonds maturing in such year. <br />In the event this bond is mutilated, lost, stolen or <br />destroyed, the City may execute and the Registrar may authenticate <br />a new bond of like date, maturity and denomination as this bond, <br />which new bond shall be marked in a manner to distinguish it from <br />this bond; provided that, in the case of this bond being mutilated, <br />this bond shall first be surrendered to the City and the Registrar, <br />and in the case of this bond being lost, stolen, or destroyed, <br />there shall first be furnished to the City and the Registrar <br />evidence of such loss, theft or destruction satisfactory to the <br />City and the Registrar, together with indemnity satisfactory to <br />them. In the event that this bond, being lost, stolen or <br />destroyed, shall have matured, instead of issuing a duplicate bond <br />the City and the Registrar may, upon receiving indemnity <br />satisfactory to them, pay this bond without surrender hereof. The <br />City and the Registrar may charge the owner of this bond with their <br />reasonable fees and expenses in connection with the above. Every <br />substitute bond issued by reason of this bond being lost, stolen <br />or destroyed shall, with respect to this bond, constitute a <br />substitute contractual obligation of the City, acting for and on <br />behalf of the Redevelopment District of the City of South Bend, <br />whether or not this bond, being lost, stolen or destroyed shall be <br />found at any time and shall be entitled to all the benefits of the <br />Resolution, equally and proportionately with any and all other <br />bonds duly issued thereunder. <br />The Registrar or Paying Agent may at any time resign as <br />Registrar or Paying Agent by giving thirty (30) days' written <br />notice to the Commission and by first -class mail to the registered <br />owners of bonds then outstanding, and such resignation will take <br />effect at the end of such thirty (30) days or upon the earlier <br />appointment of a successor Registrar or Paying Agent, as the case <br />may be, by the Commission. Such notice to the Commission may be <br />served personally or be sent by registered mail. The Registrar or <br />the Paying Agent may be removed at any time as Registrar or Paying <br />-15- <br />\rlhill \sthbnd\ airport \general \finalbd;lh;August 31, 1990 <br />
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