No. 0945 preliminary bond resolution authorizing issuance of tax increment revenue bonds of the redevelopment district of COSB for purpose of raising money for property acquisition/redevelopment in or serving the AEDAAA No. 1

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together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the property acquisition and redevelopment in or serving 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, capitalized interest and a debt service reserve for the Bonds to the extent that the Commission determines that a reserve is reasonably required and expenses the Commission may be required or permitted to pay as "relocation assistance" under IC 8- 23 -17, together with the expenses in connection with or on account of the issuance of bonds therefor, which estimated cost shall not exceed Nine Hundred Fifty Thousand Dollars ($950,000), plus investment earnings thereon in the approximate amount of $15,000, all of which will be provided from the proceeds of the bond issue, plus investment earnings thereon. The Bonds shall not constitute a corporate obligation or indebtedness of the City, but shall constitute an obligation of the Redevelopment District. The Bonds, together with interest thereon, shall be payable solely out of the Tax Increment. The Bonds shall mature and be payable no later than August 1, 1997. The Bonds shall bear interest at a rate or rates not exceeding eight percent (8%) per annum ( the exact rate or rates to be determined by bidding or negotiation). The Bonds may be subject to redemption prior to maturity in whole or in part in -5- \rlhill \sthbnd \airport \1u- 945;cl;June 27, 1990;