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No. 0780 amending section 7 of and adding section 23 and 24 to Res. No. 775 of the COSBRC
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No. 0780 amending section 7 of and adding section 23 and 24 to Res. No. 775 of the COSBRC
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Section 24. If and to the extent that <br />paragraph (3) of Section 802(e) of H.R. 3838 adopted by the <br />United States House of Representatives on December 17, 1985 <br />(or any functionally equivalent provision of any other law) <br />applies to the Series 1986 Bonds herein authorized, the <br />Series 1986 Bonds are hereby designated "Qualified Tax - <br />Exempt Obligations for purposes of such paragraph (or any <br />functionally, equivalent provision of any other law), and any <br />or all officers of the-Commission are hereby authorized to <br />execute on 'behalf of the Redevelopment District any <br />documents necessary or I appropriate to evidence further such <br />designation. It is reasonably anticipated that the amount <br />of Qualified Tax - Exempt Obligations which will be issued by <br />the Redevelopment District during the calendar year in which <br />the Series 1986 Bonds authorized herein are issued will not <br />exceed Ten Million Dollars ($10,000,000). The Commission <br />for and on behalf of the Redevelopment District covenants to <br />use its best efforts to comply with paragraph (3) of <br />Section 802(e) of H.R. 3838 (or any functionally equivalent <br />provision of any other law) to insure the designation of the <br />Series 1986 Bonds as Qualified Tax-Exempt Obligations. <br />S. <br />Section IV. Resolution Nos. 775 and 779 shall <br />remain in all other respects as adopted on May 23, 1986 and <br />July 11, 1986, respectively. <br />.Approved this S day of _ , 1986, <br />at a meeting of the South Bend Redevelopment Commission <br />ATTEST: <br />Roman Piasecki, Secretary <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />- 3 - <br />
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