No. 0827 relating to the distribution of information and confirming recommendations regarding the COSB redevelopment district tax increment revenue bonds of 1988

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RESOLUTION NO. 827 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION RELATING TO THE DISTRIBUTION OF INFORMATION AND CONFIRMING RECOMMENDATIONS REGARDING THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1988 WHEREAS, on November 12, 1987, the South Bend Redevelopment Com- mission (the "Commission ") passed a Bond Resolution (Resolution No. 819) authorizing and directing the Controller of the City of South Bend, Indiana (the "City ") to have prepared and to issue and sell the negotiable bonds of the South Bend Redevelopment District (which is a special taxing district having the same boundaries as the City), the principal of and interest on which are payable solely from taxes on real property located in a previously established Allocation Area al- located and deposited in a previously established Allocation Fund pur- suant to the provisions of IC 36- 7 -14 -39 and proceeds from the sale or leasing of property in the Allocation Area under IC 36- 7 -14 -22 deposited in the Allocation Fund as required by IC 36- 7 -14 -26 (the "Tax Increment "), which bonds shall be issued in the name of the City and which are designated "City of South Bend Redevelopment District Tax Increment Revenue Bonds of 1988" in an aggregate principal amount of One Million Eight Hundred Thousand Dollars ($1,800,000) (the "Bonds ") , and which amount does not exceed the cost of property acquisition and redevelopment in the Allocation Area together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the acquisition and redevelopment of the Allocation Area, including the total cost of all land, rights -of -way and other property to be acquired and redeveloped, all necessary architectural, engineering, legal, accounting, advertising, bond discount and supervisory expenses, a debt service reserve and capi- talized interest and expenses the Commission may be required to pay as "relocation assistance" under IC 8 -13 -18.5, together with the ex- penses in connection with the issuance of the Bonds; and WHEREAS, an "Official Statement" relating to the issuance of the Bonds has been prepared by Springsted Incorporated as financial advi- sor to the City and presented to the Commission; and WHEREAS, Springsted Incorporated has presented to the Commission "Confirming Recommendations for the City of South Bend, Indiana Rede- velopment Commission $1,800,000 Tax Increment Revenue Bonds of 1988" (the "Confirming Recommendations "). NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION THAT: Section 1. The "Official Statement" relating to the issuance of the Bonds is hereby approved in the form presented to the Commission at this meeting, including the Official Bid Form and Official Notice