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10632-18 Bond Financing for the Community Center Project (St. Joseph County Public Library)
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10632-18 Bond Financing for the Community Center Project (St. Joseph County Public Library)
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11/28/2018 12:57:51 PM
Creation date
11/28/2018 12:57:12 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/26/2018
Ord-Res Number
10632-18
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TRUST INDENTURE <br /> THIS TRUST INDENTURE dated as of 1, 20_, by and between the <br /> CITY OF SOUTH BEND, INDIANA (the "Issuer" or "City"), a municipal Public Library <br /> organized and existing under the laws of the State of Indiana, and , a <br /> banking association duly organized and authorized to accept and execute trusts of the character <br /> herein, having a corporate trust office in the City of Indianapolis, Indiana, as trustee (the <br /> "Trustee"); <br /> WITNESSETH: <br /> WHEREAS, IC 36-7-11.9 and 12, as supplemented and amended, authorize and <br /> empower the Issuer to issue revenue bonds and to use the proceeds therefrom for the purpose of <br /> financing economic development facilities and vests such Issuer with powers that may be <br /> necessary to enable it to accomplish such purposes; and <br /> WHEREAS, pursuant to this Indenture and the Financing Agreement dated as of <br /> 1, 20_(the "Financing Agreement"), by and between the Issuer and the St. Joseph <br /> County Public Library, St. Joseph County, Indiana (the "Public Library"), and in accordance <br /> with the Act, the Issuer intends to issue its City of South Bend, Indiana, Economic Development <br /> Tax Increment Revenue Bonds, Series 20_ (Community Education Center Project) in the <br /> aggregate principal amount of $ (the "Series 20_ Bonds"), for the purpose of <br /> providing funds to (a) finance the costs of the Project (defined herein), (b) fund the Debt Service <br /> Reserve Fund (defined herein) and (c) pay Costs of Issuance (defined herein) related to the <br /> Series 20 Bonds; and <br /> WHEREAS, the execution and delivery of this Indenture and the issuance of revenue <br /> bonds under the Act as herein provided have been in all respects duly and validly authorized by <br /> proceedings duly passed on and approved by the Issuer; and <br /> WHEREAS, after giving notice in accordance with the Act and IC 5-3-1-4, the South <br /> Bend Economic Development Commission (the "Economic Development Commission") held a <br /> public hearing on behalf of the Issuer, and, upon finding that the Project and the proposed <br /> financing of a portion of the costs thereof(i) will create or retain employment opportunities in <br /> and near the City; (ii) will benefit the health and general welfare of the citizens of the City and <br /> the State of Indiana; and (iii) will comply with the purposes and provisions of the Act, adopted a <br /> resolution approving the proposed financing; and <br /> WHEREAS, the Act provides that the Series 20_ Bonds may be secured by a trust <br /> indenture between the Issuer and a corporate trustee; and <br /> WHEREAS, pursuant to this Indenture, the Series 20_ Bonds shall be payable solely <br /> from payments derived from Pledged Revenues (defined herein) and proceeds from the Series <br /> 20 Bonds; and <br /> WHEREAS, the execution and delivery of this Trust Indenture, and the issuance of the <br /> Series 20 Bonds hereunder, have been in all respects duly and validly authorized by an <br /> ordinance duly passed and approved by the Common Council of the Issuer; and <br />
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