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No. 0915 establishing certain funds/accounts in connection with the lease dated 11-1-89 between the SBRC and SBRA relating to the SBCDA public improvement project and other related matters
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No. 0915 establishing certain funds/accounts in connection with the lease dated 11-1-89 between the SBRC and SBRA relating to the SBCDA public improvement project and other related matters
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RESOLUTION NO. 915 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />ESTABLISHING CERTAIN FUNDS AND ACCOUNTS IN CONNECTION <br />WITH THE LEASE DATED AS OF NOVEMBER 1, 1989 BETWEEN <br />THE SOUTH BEND REDEVELOPMENT COMMISSION AND THE <br />SOUTH BEND REDEVELOPMENT AUTHORITY RELATING TO THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA PUBLIC IMPROVEMENT <br />PROJECT AND OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority ") <br />has been created pursuant to IC 36 -7 -14.5 as a separate body, <br />corporate and politic, and as an instrumentality of the City of South <br />Bend to finance local public improvements for lease to the South Bend <br />Redevelopment Commission (the "Commission ") ; and <br />WHEREAS, the Authority intends to issue bonds in the aggregate <br />amount of Four Million Eight Hundred Ninety -Five Thousand Dollars <br />($4,895,000) pursuant to IC 36- 7- 14.5 -19 to be known as the "South <br />Bend Redevelopment Authority Lease Rental Revenue Bonds (South Bend <br />Central Development Area Public Improvement Project) (the "Bonds "), <br />the proceeds of which are to be used to finance certain land and <br />public improvements to be known as the "South Bend Central <br />Development Area Public Improvement Project" (the "Project "), and to <br />pay the costs of issuance of the Bonds; and <br />WHEREAS, the Authority intends to lease the Project to the <br />Commission pursuant to a lease dated as of November 1, 1989 (the <br />"Lease "), which Lease was heretofore approved by this Commission; and <br />-1- <br />
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