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

Home Browse Search

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