No. 0165 authorizing issuance of certain project temp. loan notes in connection with Urban Renewal Project No. IND R-29, providing for security for pmt. thereof and for other purposes

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No. Ind and for RESOLUTION NO. 165 AMENDATORY RESOLUTION AUTHORIZING THE ISSUANCE OF CERTAIN PROJECT TEMPORARY LOAN NOTES IN CONNECTION WITH URBAN RENEWAL PROJECT NO. IND. R -29 AND PROVIDING FOR THE SECURITY FOR THE PAYMENT THEREOF, AND FOR OTHER PURPOSES REAS the City of South Bend, Department of Redevelopment (herein s called the "Local Public Agency ") enacted a Resolution on r 199 1963 which authorized the issuance of certain Project y Loan Notes in connection with an Urban Renewal Project R -29 and providing for the security for the payment thereof other purposes; and WHIREAS, it is desired to amend said Resolution: NO!, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, Governing Body of the City of South Bend, Department of Redevel pment as follows: Se tion 1. That Section 4 of the Resolution adopted September 19, 1963 is amended by striking out the first three sentences and inserting in lieu thereof the following. Section 4. That there is hereby established a separate and eial account on the books of account of the Local Public Agency, ch is hereby designated the "Project Temporary Loan Repayment d; Project No. Ind. R -2911, said account being elsewhere herein erred to as the "Project Temporary Loan Repayment Fund." moneys of such account shall be maintained in a bank or banks .ch are members of the Federal Deposit Insurance Corporation, , may be deposited in a consolidated bank account or accounts cited to the moneys comprising the Project Temporary Loan Re- ment Fund for this Project together with the moneys comprising Project Temporary Loan Repayment Fund for any or all urban renewal ejects carried out or to be carried out under Contracts for a n and Grant by and between the Local Public Agency and the ,ernment. The following moneys shall be debited to said Project iporary Loan Repayment Fund and deposited in the bank account accounts authorized by this section as and when such moneys are !eived by the Local Public Agency: ion 2. That this Resolution shall take effect immediately. Adopted at a regular meeting of the South Bend Redevelopment Commission held on March 2, 1967 at the office of the Commission, 120 West LaSalle Avenue, Suite 1001, South Bend, Indiana.