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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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the Redevelopment District. The Bonds, together with interest <br />thereon, shall be payable solely out of the Tax Increment. <br />The Bonds shall be issued in fully registered form in the <br />denomination of Five Thousand Dollars ($5,000), or integral <br />multiples thereof ( "Authorized Denominations "), not exceeding the <br />aggregate principal amount of the Bonds and shall be numbered <br />consecutively from 90R -1 upwards. The Bonds shall mature and be <br />payable on August 1, 1996. <br />The interest on the Bonds shall be payable semiannually <br />on the first day of February and the first day of August of each <br />year commencing February 1, 1991. Interest shall be calculated on <br />the basis of twelve (12) thirty -day months for a three hundred <br />sixty -day year. <br />The Controller of the City of South Bend, Indiana, or <br />such financial institution as the Controller may designate pursuant <br />to this Resolution, is hereby appointed as Registrar (the <br />Controller or such financial institution and any subsequent <br />registrar appointed pursuant to this Resolution shall hereinafter <br />be referred to as the "Registrar ") for the Bonds and is hereby <br />charged with the responsibility of authenticating the Bonds. The <br />Registrar shall keep and maintain at its principal office books for <br />the registration and for the transfer of the Bonds (the "Bond <br />Register "). The Controller is hereby authorized and directed, on <br />behalf of the Commission, to enter into such agreements or <br />understandings with the Registrar as will enable the Registrar to <br />perform the services required of a registrar, and is directed to <br />pay the Registrar for its services out of available funds. <br />The principal of the Bonds shall be payable at the <br />principal office of the Controller or such financial institution <br />as the Controller may designate pursuant to this Resolution, which <br />Controller or designated financial institution is hereby appointed <br />as the Paying Agent (the Controller or such financial institution <br />and any subsequent Paying Agent appointed pursuant to this <br />Resolution shall hereinafter be referred to as the "Paying Agent ") <br />for the Bonds. Interest on the Bonds shall be paid by check or <br />draft mailed or delivered to the registered owners of the Bonds at <br />the address as it appears on the Bond Register as of the fifteenth <br />day of the month immediately preceding the interest payment date <br />or at such other address as is provided to the Paying Agent in <br />writing by such registered owners. All payments on the Bonds shall <br />be made in lawful money of the United States of America. The <br />Controller is hereby authorized and directed, on behalf of the <br />Commission, to enter into such agreements or understandings with <br />the Paying Agent as will enable the Paying Agent to perform the <br />services required of a paying agent, and is directed to pay the <br />Paying Agent for its services out of available funds. <br />-5- <br />\rlhill \sthbnd\ airport \general \finalbd;lh;August 31, 1990 <br />
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