Laserfiche WebLink
RE! <br />OF <br />OF <br />RESOLUTION #67 <br />OLUTION APPROVING AND PROVIDING FOR THE EXECUTION <br />A PROPOSED LOAN AND CAPITAL GRANT CONTRACT, NUMBERED <br />'TRACT NO. INDIANA R- 29(LG), BETWEEN THE CITY OF SOUTH <br />D, DEPARTMENT OF REDEVELOPMENT AND THE UNITED STATES <br />AMERICA, PERTAINING TO A CERTAIN PROJECT DESIGNATED <br />,JECT NO, INDIANA R -29, AND ESTABLISHING A PROJECT <br />ENDITURES ACCOUNT WITH RESPECT TO SAID PROJECT, <br />AND FOR OTHER PURPOSES <br />WHEREAS, under Title I of the Housing Act of 1949, as amended, <br />the United States of America (herein called the "Government ") has <br />tendered to the City of South Bend, Department of Redevelopment <br />(herein called the "Local Public Agency ") a proposed Loan and Capital <br />Grant Con ract under which the Government agrees to make a Project <br />Temporary Loan, a Project Definitive Loan, and a Project Capital <br />Grant to the Local Public Agency to aid in financing an urban renewal <br />project, designated Project Noe Indiana R -29, in the urban renewal <br />area desc ibed therein; and <br />WHEREAS the Local Public Agency has given due consideration to <br />said proposed Contract; and <br />6HHER AS the Local Public Agency is duly authorized, under and <br />pursuant to the Constitution and laws of the State of Indiana, to <br />undertake and carry out said Project and to execute such proposed <br />Contract; and <br />WHEREAS under said proposed Contract it is required, among other <br />things, that, with respect to said Project, the Local Public Agency <br />shall promptly set up, and maintain in a bank or banks which are <br />members of the Federal Deposit Insurance Corporation, a separate and <br />special fund designated "Project Expenditures Account; Project No. <br />Indiana R-29", into which shall be deposited certain funds described <br />in said proposed Contract: <br />BE I RESOLVED BY THE CITY OF SOUTH BEND, DEPARTMENT OF REDEVE- <br />LOPMENT A FOLLOWS <br />Section le The proposed Contract, designated "Loan and Capital <br />Grant Contract, Contract No. Indiana R- 29(LG)" consisting of Parts I <br />and II, under and subject to the provisions, terms, and conditions of <br />which the Government will make a Project Temporary Loan, a Project <br />Definitiv Loan, and a Project Capital Grant under Title I of the <br />Housing Act of 1949, as amended, to the Local Public Agency to aid <br />in financing an urban renewal project, designated Project No. Indiana <br />R -29, situated in the City of South Bend, Indiana, is hereby in all <br />respects qLpproved. <br />Section 2> The President is hereby authorized and directed to <br />execute said proposed Contract in two counterparts on behalf of the <br />Local Public Agency, and the Secretary is hereby authorized and <br />directed to impress and attest the official seal of the Local Public <br />Agency on each such counterpart and to forward such counterparts to <br />the Housi g and Home Finance Agency, together with such other documents <br />-1- <br />