Amendment of the Lease with the City of South Bend Building Corporation

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Revenue Bonds of 2001 outstanding after February 1, 2008 in the aggregate principal amount of Seven Million One Hundred Forty-five Thousand and 00/100 Dollars ($7,145,000.00) to achieve a savings for the City. The Common Council hereby approves of the sale of the Refunding Bonds in an aggregate principal amount not to exceed Seven Million Two Hundred Thousand and 00/100 Dollars ($7,200,000.00). 2. The Mayor, the City Clerk and the Controller, and such other officers of the City as may be necessary and appropriate, are, and each of them is, hereby authorized to take any and all actions and to execute all such instruments as may be necessary or appropriate to accomplish the advance refunding of the outstanding Prior Bonds, in such forms as the officers executing the same shall deem proper, to be evidenced by the execution thereof, including, without limitation, (i) executing a second addendum to lease to provide for lower annual lease rental payments as a result of the refinancing of the outstanding Prior Bonds, and (ii) entering into a continuing disclosure undertaking agreement to provide continuing disclosure with respect to the Refunding Bonds as required under the federal securities laws. 3. This Resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. PRESENTED _, ~, - L8 ~~~ NOT APP40YE[~ ADOPTED .~ 1 ~ ~~ ~ ~~ Member of the mon Council -2- ~i:~.-~~ Jl`,~i ~ ~;;.. ,. -~ w.~._- 4l~'CZ} Y~: ~•