Resolution No. 174 Appointment of a Trustee for the South Bend Redevelopment Authority Lease Rental Revenue Refunding Bonds

Home Browse Search

RESOLUTION NO. 174 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY AUTHORIZING THE APPOINTMENT OF A TRUSTEE FOR THE SOUTH BEND REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE REFUNDING BONDS, SERIES 2011 AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Authority (the Authority") has been created pursuant to I.C. 37-7-14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South Bend, Indiana (the "City") to finance local public improvements for lease to the South Bend Redevelopment Commission (the "Commission"); and WHEREAS, the Authority has previously issued its Lease Rental Revenue Refunding Bonds of 2000 (College Football Hall of Fame Project) (the "2000 Bonds") for the purpose of currently refunding its Variable Rate Demand Lease Rental Revenue Bonds of 1994 (College Football Hall of Fame Project) which were issued to finance the construction of the College Football Hall of Fame (the "Hall of Fame Project") and pay the costs of issuance of the 2000 Bonds; and WHEREAS, the Authority has previously issued its Lease Rental Revenue Refunding and Improvement Bonds of 2001 (Century Center Project) (the "2001 Bonds" and C together with the 2000 Bonds, collectively, the "Refunded Bonds") for the purpose of advance refunding its Lease Rental Revenue Bonds of 1994 (Century Center Project) which were issued to finance the construction of the Century Center (the "Century Center Project") and pay the costs of issuance of the 2001 Bonds; and WHEREAS, the Authority has previously approved and executed a lease of the Hall of Fame Project and the Century Center Project with the Commission dated as of November 1, 1993, as amended by an Addendum to Lease dated as of June 3, 1994, as amended by a Second Addendum to Lease dated as of July 1, 1994, and as further amended by a Third Addendum to Lease between the Commission and the Authority dated as of November 17, 2000, (collectively, the "Lease"); and WHEREAS, the Authority has previously approved and executed a trust agreement with Wells Fargo Bank Indiana, N.A., as trustee (the "Prior Trustee"), dated as of November 1, 2000 (the "2000 Trust Agreement"), for the purpose of securing the principal of and premium, if any, and interest on all of the 2000 Bonds and the performance of the covenants contained therein; and WHEREAS, the Authority has previously approved and executed a trust agreement with the Prior Trustee, dated as of August 1, 2001 (the "2001 Trust Agreement"), for the purpose of securing the principal of and premium, if any, and interest on all of the 2001 Bonds and the performance of the covenants contained therein; and C BDDBOI 6786868v1