No. 0925 authorizing the issuance/sale of special taxing district bonds of the SB redevelopment district for purpose of raising money for property acquisition and redevelopment in the Studebaker Corridor Dev Area

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shall award the Bonds to the bidder offering the lowest interest cost, to be determined by computing the total interest on all of the Bonds from the date thereof to the date of their maturities and deducting therefrom the premium bid, if any. No bid for less than the par value of the Bonds, including accrued interest at the rate or rates named to the date of delivery, shall be considered. The Controller shall have full right to reject any and all bids. If no acceptable bid is received at the time fixed in the notice for the sale of the Bonds, then the sale may be continued from day to day for a period not to exceed thirty (30) days without readvertising. During the continuation of the sale, no bid shall be accepted which offers an interest cost which is equal to or higher than the best bid received at the time fixed for the sale in the Bond sale notice. SECTION 6. Prior to the delivery of the Bonds, the Controller shall be authorized to obtain a legal opinion as to the validity of the Bonds from Baker & Daniels, bond counsel, of Indianapolis, Indiana, and to furnish such opinion to the purchaser or purchasers 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. SECTION 7. The Commission hereby authorizes and directs the Mayor and the Controller of the City, and the members and officers of the Commission, and each of them, for and on behalf of the District, to prepare, execute and deliver any and all other instruments, letters, certificates, agreements and documents as the official executing the same determines is necessary or appropriate to consummate the transactions contemplated by this Resolution, and such determination shall be conclusively evidenced by the execution thereof. The instruments, letters, certificates, agreements and documents, including the Bonds, necessary or appropriate to consummate the transactions contemplated by this Resolution shall, upon execution, as contemplated herein, constitute the valid and binding obligations or representations and warranties of the District, the full performance and satisfaction of which by the District is hereby authorized and directed. SECTION 8. The Mayor is hereby authorized to execute the Bonds with his manual or facsimile signature and the Controller is hereby authorized and directed to have such Bonds prepared, attest the Bonds with her manual or facsimile signature, and cause the seal of the City to be impressed or a facsimile thereof to be printed or otherwise reproduced on the Bonds, all in the form and manner herein provided. In case any officer whose signature appears on the Bonds shall cease to hold that office before the delivery of the Bonds, the signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until the delivery of -16- \rlhill\studbakr\corrproj\lufnlbnd;la;Apri1 6, 1990;