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Requisition Agreement, the following amount <br />shall be paid to the paying agent named below, <br />for the sole and only purpose of paying the <br />principal of and interest to maturity upon <br />the designated Series of Outstanding Prelim- <br />inary Loan Notes of the Local Public Agency: <br />Amount Paving Agents, Series <br />$1,416,364.58 National Bahk & Trust Co. Second Series C <br />112 W. Jefferson Boulevard <br />South Bend, Indiana <br />Any balance of such proceeds shall be deposited in the appropriate <br />account or fund established pursuant to the Loan and Grant Contract and <br />shall be used only in accordance with the provisions of the Loan and Grant <br />Contract. <br />Section 9. The Treasurer of St. Joseph County ex officio Treasurer <br />of the City of South Bend is hereby authorized and directed to send im- <br />mediately a letter to each paying agent for the New Preliminary Loan Notes <br />in substantially the form of the letter hereto attached and marked "Exhi- <br />bit B" and to transmit: (1) the New Preliminary Loan Notes to said pay- <br />ing agent for delivery and payment in accordance with the terms of said <br />letter; (2) $ -0- of funds of the Local Public Agency to the Secretary of <br />Housing and Urban Development, to be applied against the payment of the <br />principal of and interest to the date of payment on the Project Temporary <br />Loan Notes described in Section 8 hereof; and (3) funds of the Local Pub- <br />lic Agency to the paying agent of the designated Series of Outstanding <br />Preliminary Loan Notes, to be applied against the payment of the prinei- <br />pal,of nd interest to maturity on such Series of Outstanding Preliminary <br />Loan No es, as follows: <br />Adopted <br />on July <br />Suite 1 <br />Amount Paying Agent Series <br />$;',U,394.58 National Bank & Trust Cow Second Series C <br />112 W. Jefferson Boulevard <br />South Bend, Indiana <br />!ction 10. This Resolution shall take effect immediately. <br />at the Regular Meeting of the South Bend Redevelopment Commission <br />18, 1968 at the office of the Commission, 120 West LaSalle Avenue, <br />01, South Bend, Indiana. <br />-4- <br />