No. 0315 authorizing the sale, issuance and delivery of project notes in the aggregate principal amount of $270,000 and the execution of requisition agreement No. 401970

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called (which any pr States by the newal, tract RESOLUTION NO. 315 RESOLUTION AUTHORIZING THE SALE, ISSUANCE AND DELIVERY OF PROJECT NOTES IN THE AGGREGATE PRINCIPAL AMOUNT OF $270,000 AND THE EXECUTION OF REQUISITION AGREEMENT NO. 401970 EREAS, The City of South Bend, Department of Redevelopment (herein the "Local Issuing Agency ") has entered into one or more contracts together with any supplements thereto or amendments or waivers of visions thereof are herein called the "Contract ") with the United of America (herein called the "Government ") providing for a loan Government to the Local Issuing Agency for financing the urban re- low -rent housing or redevelopment project(s) described in the Con - nd herein called the "Project "; and WHEREAS, pursuant to advertisement for the receipt of proposals for the purchase of the Fourth Series 1970 of Project Notes (herein sometimes called "New Project Notes ") of the Local Issuing Agency aggregating $ 270, 00, which appeared in a Notice of Sale published on September 1, 1970, in the South Bend Tribune in the City of South Bend, Indiana and in The Daily Bond Buyer in the City of New York, New York, proposals for the purchase of the New Project Notes in the form approved by the Local Issuing Agency were received, opened, and canvassed at the time and place mentioned in said advertisement, to-wit: at Room 1200 County-City Building, 227 West Jeffer on Boulevard in the City of South Bend, Indiana at one o'clock P.M. E.D.S. ., on September 15, 1970, which proposals are as follows: Name of Bidder Interest Principal Rate Amount Premium First Bank and Trust Company of South Bend 4.10% $270,000 -0- The National Bank and Trust Company of South Bend 4.30% $270,000 -0- St. Joseph Bank and Trust Company 4.34% $270,000 $ 27.00 Bank of America N.T. and S.A. with Bankers Trust Company 4.34% $270,000 $ 15.00 NOW, THEREFORE, BE IT RESOLVED by the Local Issuing Agency as follows: S ction 1. The aforesaid publication of the Notice of Sale and the form and co tents thereof as so published are hereby, in all respects, approved, ratifi d and confirmed. Section 2. In order to provide funds to pay expenses incurred or to be incurred in the development of the Project, or to refund, renew or extend its outstanding Notes issues in connection therewith, the Local Issuing Agency hereby determines to borrow the sum of Two Hundred Seventy Thousand Dollars ($270,000) and issue its negotiable Project Notes therefor. Section 3. The Local Issuing Agency hereby ratifies and approves the form of each proposal hereinafter in this Section 3 enumerated for the pur- chase cf the designated principal amount of Notes and determines that each such proposal offers to purchase such Notes at the lowest interest rate and is therefore accepted, and said Notes are hereby awarded to the purchaser, as follows: PrincipIal Amount Interest Rate Purchaser $270,000 4.10% First Bank and Trust Company of South Bend 133 South Main South Bend, Indiana