My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
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
sbend
>
Public
>
Redevelopment Commission
>
Resolutions
>
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
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/18/2012 3:08:30 PM
Creation date
1/12/2012 12:17:37 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
32
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
WHEREAS, the Commission now further determines that the <br />issuance of the Bonds in the aggregate principal amount of Nine <br />Hundred Fifty Thousand Dollars ($950,000) is necessary in order to <br />provide funds for payment of part of the cost of property <br />acquisition and redevelopment in the Allocation Area; <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF SOUTH BEND <br />REDEVELOPMENT COMMISSION AS FOLLOWS: <br />1. For the purpose of procuring funds to pay for the <br />cost of property acquisition and redevelopment in the Allocation <br />Area, together with a sum sufficient to pay the estimated cost of <br />all expenses reasonably incurred in connection with the acquisition <br />and redevelopment of the Allocation Area, including the total cost <br />of all land, rights -of -way, and other property to be acquired and <br />redeveloped, all reasonable and necessary architectural, <br />engineering, legal, financing, accounting, advertising, bond <br />discount and supervisory expenses, capitalized interest and a debt <br />service reserve for the Bonds as set forth herein and expenses the <br />Commission may be required or permitted to pay as "relocation <br />assistance" under IC 8- 23 -17, together with the expenses in <br />connection with or on account of the issuance of the Bonds, the <br />City acting for and on behalf of the Redevelopment District, shall <br />make a loan in the amount of Nine Hundred and Fifty Thousand <br />Dollars ($950,000). <br />In order to procure funds for said loan, the Controller <br />of the City is hereby authorized and directed to have prepared and <br />to issue and sell the negotiable bonds of the Redevelopment <br />District, in one or more series which Bonds shall be issued in the <br />name of the City, for and on behalf of the Redevelopment District <br />and which shall be designated "City of South Bend Redevelopment <br />District Tax Increment Revenue Bonds of 1990," in an aggregate <br />principal amount of Nine Hundred Fifty Thousand Dollars ($950,000), <br />and which amount does not exceed the cost, as estimated by the <br />Commission, of property acquisition and redevelopment in the <br />Allocation Area, together with a sum sufficient to pay the <br />estimated cost of all expenses reasonably incurred in connection <br />with the acquisition and redevelopment of the Area, including the <br />total cost of all land, rights -of -way, and other property to be <br />acquired and redeveloped, all reasonable and necessary <br />architectural, engineering, legal, financing, accounting, <br />advertising, bond discount and supervisory expenses, capitalized <br />interest and a debt service reserve for the Bonds as provided <br />herein and expenses the Commission may be required or permitted to <br />pay as "relocation assistance" under IC 8- 23 -17, together with the <br />expenses in connection with or on account of the issuance of the <br />Bonds therefor. <br />The Bonds shall not constitute a corporate obligation or <br />indebtedness of the City, but shall constitute an obligation of <br />-4- <br />\rlhill \sthbnd \airport \general \finalbd;lh;August 31, 1990 <br />
The URL can be used to link to this page
Your browser does not support the video tag.