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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The Commission shall approve and confirm the findings and estimates set forth in the above - described certificate in any supplemental resolution authorizing the issuance of the Parity Bonds. Except as otherwise provided in this Section, so long as any of the Bonds are outstanding, no additional bonds or other obligations pledging any portion of the Tax Increment shall be authorized, executed or issued by the City acting for and on behalf of the Redevelopment District except such as shall be made subordinate and junior in all respects to the Bonds, unless all of the Bonds are redeemed and retired coincidentally with the delivery of such additional bonds or other obligations, or, as provided in Section 15 hereof, funds sufficient to effect such redemption are available and set aside for that purpose at the time of issuance of such additional bonds. 6. Proceeds received from the sale of the Bonds shall be deposited as follows: (a) all accrued interest received at the time of the delivery of the Bonds and an additional amount equal to the interest coming due on the Bonds on February 1, 1991, August 1, 1991, and February 1, 1992, shall be placed in the Bond Principal and Interest Account; (b) an amount equal to the Debt Service Reserve Requirement shall be placed in the Reserve Account; and (c) the remaining proceeds from the sale of the Bonds shall be deposited in a special fund to be designated as the "City of South Bend Redevelopment District (Airport Economic Development Area Allocation Area No. 1) 1990 Capital Fund" (the "Capital Fund "). 7. Proceeds of the Capital Fund shall be deposited with a legally qualified depository or depositories for funds of the City as now provided by law and shall be segregated and kept separate and apart from all other funds of the City and may be invested as permitted by law. The proceeds in the Capital Fund shall be expended only for the purpose of paying the cost of property acquisition and redevelopment in the Allocation Area together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the acquisition and redevelopment of the Allocation Area, including the total cost of all land, rights -of -way and other property to be acquired and redeveloped, all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, and expenses the Commission may be required or permitted to pay as "relocation assistance" under IC 8 -23 -7, together with the expenses in connection with or on account of the issuance of the Bonds. Any balance or balances -22- \rlhill \sthbnd\ airport \general \finalbd;lh;August 31, 1990