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60-18 Bond Financing for the Community Center Project
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60-18 Bond Financing for the Community Center Project
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11/7/2018 2:09:11 PM
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11/7/2018 2:08:28 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/12/2018
Bill Number
60-18
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, Indiana, or at the principal office of any successor trustee. All sinking fund <br /> redemption payments and all payments of interest on this bond (except the final interest <br /> payment) shall be paid by wire transfer on each interest payment date to the Registered Owner as <br /> of the Record Date at the address as it appears on the registration books kept by the Registrar or <br /> at such other address as is provided to the Paying Agent in writing by the Registered Owner. All <br /> payments of principal and interest on this bond shall be payable in any coin or currency of the <br /> United States of America which on the date of such payment shall be legal tender for the <br /> payment of public and private debts. <br /> This bond is an authorized bond of the Issuer, designated as the City of South Bend, <br /> Indiana, Economic Development Tax Increment Revenue Bonds, Series 20_ (Community <br /> Education Center Project), dated , 20_ (the "Series 20_ Bonds"), issued <br /> pursuant to Ordinance , adopted by the Common Council of the Issuer on , 20_(the <br /> "Bond Ordinance") and under and secured by a Trust Indenture, dated as of 1, 20_ <br /> (the "Indenture"), duly executed and delivered by the Issuer to the Trustee, to which reference is <br /> hereby made for a description of the property securing the Series 20_Bonds and any additional <br /> bonds issued thereunder (the "Additional Bonds") (the Series 20_ Bonds and any Additional <br /> Bonds, collectively, the "Bonds"), and the rights under the Indenture of the Issuer, the registered <br /> owners of the Bonds and the Trustee. The Series 20 Bonds are limited in aggregate principal <br /> amount of $4,800,000. The Series 20_ Bonds are being issued for the purpose of providing <br /> funds to (a) finance the cost of the Project (as defined in the Indenture), (b) fund a Debt Service <br /> Reserve Fund, and (c) pay certain of the costs incurred in connection with and on account of the <br /> issuance of the Series 20_Bonds. The Issuer has agreed to issue the Series 20_Bonds and to <br /> provide a portion of proceeds thereof to the St. Joseph Public Library, St. Joseph County, Indiana <br /> (the "Public Library"), pursuant to the terms of a Financing Agreement, dated as of 1, <br /> 20 (the "Financing Agreement"), which prescribes certain of the terms and conditions under <br /> which such proceeds and other funds will be used by the Public Library. <br /> The Bonds are all equally and ratably secured by and entitled to the protection of the <br /> Indenture. The Indenture permits the issuance of Additional Bonds under the conditions set out <br /> in Section 2.9 thereof and allows the Issuer to terminate the security of the Indenture for Bonds <br /> by establishing a trust fund under the conditions set out in Section 10.2 thereof. Pursuant to the <br /> Indenture, the Trust Estate (as created and defined in the Indenture), consisting of the funds and <br /> accounts of the Indenture and a pledge and assignment of the Pledged Revenues (as defined in <br /> the Indenture), is pledged and assigned by the Issuer to the Trustee as security for the Bonds. <br /> The Bonds are issued pursuant to and in full compliance with the Constitution and laws of the <br /> State of Indiana, particularly Indiana Code, Title 36, Article 7, Chapters 11.9 and 12 (the "Act"), <br /> and by appropriate action duly taken by the Issuer which authorizes the execution and delivery of <br /> the Indenture. The Series 20_ Bonds have been issued in conformity with the provisions, <br /> restrictions and limitations of the Act. Copies of the Indenture are on file at the principal <br /> corporate trust office of the Trustee. BY ACCEPTANCE OF THIS SERIES 20_BOND, THE <br /> OWNER OF THIS SERIES 20_ BOND HEREBY ACCEPTS ALL THE PROVISIONS OF <br /> THE INDENTURE. <br /> The South Bend Redevelopment Commission (the "Redevelopment Commission"), has, <br /> pursuant to Resolution No. (the TIF Pledge Resolution"), pledged the Pledged Revenues to <br /> the payment of the Series 20_Bonds. <br /> A-2 <br />
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