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N <br />of BV <br />r3 D-k of Amar. <br />S. A. and Fi: <br />:t'ittsburg N& <br />Dorgan Guaxa <br />Company of <br />CnL ideal Ban: <br />Trust Comgan; <br />St. Joseph B <br />Company <br />- - <br />AJjx oL111X. <br />Interest <br />sr. hate <br />a. N. T. & 4.26% <br />t National :City,Bank"' <br />onal Bank 4.26% <br />y Trust 4.24% <br />ew York <br />Principal <br />Amount' <br />$1,195, <br />Premium <br />$ 8.00 <br />$1,195, $59.00 <br />".$1'195'000 $1,195,00© $18.00 <br />New York 4.16% $1,195,000 $1.00 <br />ak & Trust_ 3.'F5� $1,195, — —o- <br />WHE , the interest cost at which the Local Public Agency can sell <br />the Preliminary Loan Notes is lower than the interest rate which the Government. <br />is required to charge the Local Public Agency under the terms of the Loan and <br />Grant Contract., and the Government is desiWous of cooperating with the Local. Public <br />Agency in its endeavor to sell said Preliminary Loan Notes in order to reduce carry- <br />ing charges and other costs of the Project. <br />BE -IT RES6LiED BY the City of South Bend Redevelopment Commission <br />AS �01�0s <br />Section 1. The aforesaid publication of the Notice of Sale and the form and <br />contents thereof as so publishedt are hereby, in all respects, approved,�ratified <br />and confirmed. . <br />Section 2. In order.to_.provide funds to defray expenses incurred or to be <br />incurred t e Local. Public Agency's undertaking and carrying out of the Projects.. <br />or to retir y refundp renew or extend its outstanding notes issued`in connection <br />therewith he Local Public Agency hereby determines to borrow the sum of one mi <br />�} , .t ---------------------------- Dollgsrs <br />and issue its negotiable Preliminary Loan Notes therefor-in aggregate principal <br />mount equal to said sum. <br />Sectio 3. The Local Public Agency hereby ratifies and approves the form of <br />the propos hereinafter in this Section 3 enumerated, for the purchase of the <br />designated rincipal amount of the Preliminary Loan Notes., which proposal the <br />— 2 — <br />