No. 0747 authorizing the issuance of tax increment revenue bonds for the purpose of raising money for property acquisition and redevelopment in the SBCDA

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The Commission shall notify each registered owner of Bonds then outstanding by first -class mail of the removal of the Registrar or Paying Agent. Notices to registered owners of Bonds shall be deemed to be given when mailed by first -class mail to the addresses of such registered owners as they appear on the registration books kept by the Registrar. The Bonds shall be executed in the name of the City, acting for and on behalf of the Redevelopment District, by the manual or facsimile signature of the Mayor of the City, and attested by the manual or facsimile signature of the Controller, who shall cause the official seal of the City to be impressed or a facsimile thereof to be printed on each of the Bonds. Subject to the provisions for registration, the Bonds shall be negotiable under the laws of the State of Indiana. The Bonds shall be authenticated with the manual signature of an authorized representative of the Registrar, and no Bond shall be valid or obligatory for any purpose until the certificate of authentication on such Bond shall have been so executed. SECTION 2. Bonds maturing on and after February 1, 1997, shall be subject to prior redemption at the option of the Commission, in whole or in part (only in Authorized Denominations), and if in part in inverse order of maturities and within any maturity by lot (in such manner as may be determined by the Registrar), on February 1, 1996, and on each interest payment date thereafter. Bonds so redeemed shall be redeemed on such redemption date at a price of 100% of the principal amount of the Bond outstanding to be redeemed plus accrued interest to the redemption date on the principal amount to be redeemed, and without premium. In the case of redemption of the Bonds, notice of the call for any such redemption identifying the Bonds, or portions of the Bonds, to be redeemed shall be given by mailing a copy of the redemption notice by registered or certified mail not less than thirty (30) days nor more than forty -five (45) days prior to the date fixed for redemption to the registered owner of each Bond to be redeemed at the address shown on the Bond Register; provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any such Bond shall not affect the validity of any proceedings for the redemption of other Bonds. On and after the redemption date specified in the aforesaid notice, provided funds for their redemption are on deposit at the place of payment, such Bonds, or portions thereof, thus called for redemption shall not bear interest,