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WHEREAS, said Section 39(b)(3)(B) further provides that the <br />Commission may not authorize a payment to the respective taxing units <br />if to do so would endanger the interest of the holders of Bonds <br />described in Section 39(b)(2) of the Act; and <br />WHEREAS, the Commission has received an opinion from its <br />financial consultant, Springsted, Inc., that states that the <br />authorization of payment of such tax proceeds to the respective <br />taxing units would endanger the interest of the holders of the Series <br />1985 Bonds, the Series 1986 Bonds and other Bonds issued on a parity <br />with such Bonds, a copy of which opinion is attached hereto, made a <br />part of this Resolution and marked as Exhibit "A ". <br />NOW THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment <br />Commission as follows: <br />SECTION 1. The Commission hereby finds and determines that the <br />authorization of payments to the respective taxing units pursuant to <br />Section 39(b)(3)(B) of the Act would endanger the interest of the <br />holders of the Series 1985 Bonds, the Series 1986 Bonds and other <br />Bonds issued on parity with such Bonds. <br />SECTION 2. The Commission hereby finds and determines that, in <br />accord with Section 39(b)(3)(B) of the Act, that no such payment <br />shall be made. <br />SECTION 3. The Secretary is directed to provide a certified copy <br />of this Resolution to the County Auditor. <br />Adopted at a regular meeting of the Commission held on November <br />12, 1987, in the offices of the Commission located on the Twelfth <br />(12th) floor of the County -City Building, 227 W. Jefferson Blvd., <br />South Bend, Indiana 46601. <br />ATTEST <br />AAA <br />�- <br />Roman Piasecki, Secretary <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />F <br />