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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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remaining in the Capital Fund after the completion of property <br />acquisition and redevelopment in the Allocation Area which are not <br />required to meet unpaid obligations incurred in connection with <br />the property acquisition and redevelopment in the Allocation Area <br />and issuance of the Bonds, shall be deposited into the Bond <br />Principal and Interest Account and used solely for the purposes of <br />that account. <br />8. As soon as can be done after the adoption of this <br />Resolution, the President and the Secretary of the Commission are <br />hereby directed to deliver on behalf of the Commission a certified <br />copy of this Resolution to the Controller. <br />9. The Bonds shall be sold by private negotiated sale, <br />as provided by IC 36- 7- 14- 25.1(8), to Raffensperger Hughes & Co., <br />Inc. (the "Purchaser ") , at a price of not less than 99% of par plus <br />accrued interest to the date of delivery of the Bonds in accordance <br />with the Purchase Agreement. The President of the Commission is <br />hereby authorized to execute and deliver the Purchase Agreement <br />substantially in the form attached hereto as Appendix A, together <br />with such changes and modifications as may be approved by the <br />President (with execution by the President to be conclusive <br />evidence of such approval), based upon the recommendation of the <br />financial advisor to the Commission with respect to the interest <br />rates on the Bonds, mandatory redemption dates and amounts and <br />other matters contained therein. The President is further <br />authorized to carry out, on behalf of the City and the Commission, <br />the terms and conditions set forth in the Purchase Agreement, <br />consistent with the provisions of this Resolution. <br />10. The Controller is hereby authorized and directed to <br />obtain a legal opinion as to the validity of the Bonds from Baker & <br />Daniels, bond counsel, of South Bend, Indiana, and to furnish such <br />opinion to the purchaser of the Bonds. The cost of said opinion <br />shall be considered as part of the costs incidental to these <br />proceedings and shall be paid out of the proceeds of the Bonds. <br />11. Any Bonds issued under this Resolution may be <br />initially issued in temporary form exchangeable for definitive <br />Bonds. The temporary Bonds may be printed, lithographed or <br />typewritten, shall be of such denominations as may be determined <br />by the Commission, shall be in fully registered form and may <br />contain such reference to any of the provisions of this Resolution <br />as may be appropriate. Every temporary Bond shall be executed, <br />sealed and attested by the Mayor and Controller in substantially <br />the same manner as provided in Section 1 hereof. If temporary <br />Bonds are issued, definitive Bonds will be executed and furnished <br />without delay and thereupon the temporary Bonds may be surrendered <br />for cancellation at the principal office of the Registrar and the <br />Registrar shall deliver in exchange for such temporary Bonds an <br />equal aggregate principal amount of definitive Bonds of the same <br />-23- <br />\rlhill \sthbnd \airport \general \finalbd;lh;August 31, 1990 <br />
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