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RE
<br />OF
<br />OF
<br />2,
<br />►LUTION #49 AUTHORIZING THE SALE, ISSUANCE, AND DELIVERY
<br />IRELIMINARY LOAN NOTES IN THE AGGREGATE PRINCIPAL AMOUNT
<br />;1,375,000.00, THE EXECUTION OF REQUISITION AGREEMENT NO.
<br />►ND THE EXECUTION AND DELIVERY OF PROJECT TEMPORARY LOAN
<br />NO. 3, IN CONNECTION WITH PROJECT NO. IND. R -7.
<br />WHEREAS, the City of South Bend, Department of Redevelop -
<br />men (herein called the "Local Public Agency ") has entered into
<br />a contract dated as of the 17th day of August, 1960, numbered
<br />Contract No. Ind. R- 7(LG), (which, together with any supple-
<br />ments thereto or amendments, modifications, or waivers of any
<br />provisions thereof, is herein called the "Loan and Grant
<br />Contract"), with the United States of America (herein called
<br />the "Government ") acting by and through the Housing and Home
<br />Finance Administrator, providing, in part, for a Project Temporary
<br />Loan by the Government to the Local Public Agency under Title I
<br />of the Housing Act of 1949 (Public Law 171 - 81st Congress,
<br />approved July 15, 1949), as amended, in an amount outstanding at
<br />any one time not to exceed $2,527,500.00 to aid the Local Public
<br />Agency in its undertaking and carrying out of a certain slum
<br />clearance and urban redevelopment project (herein called the
<br />"Pr ject ") designated Project No. Ind. R -7, which is more fully
<br />ide tified in the Loan and Grant Contract; and
<br />WHEREAS, the Government has agreed, pursuant to Requisition
<br />Agreement No. 1 with the Local Public Agency dated as of the 20th
<br />day of February, 1962 (herein called the "Outstanding Requisition
<br />Agreement"), to make a payment on account of said Project Tempor-
<br />ary Loan on the 24th day of August, 1962, which Project Tempor-
<br />ary Loan payment has been pledged for the payment of the principal
<br />of and interest upon Preliminary Loan Notes (First Series A) of
<br />the Local Public Agency which mature on the 24th day of August,
<br />1962, and are herein called the "Outstanding_ Preliminary Loan
<br />Not s "; and
<br />WHEREAS, pursuant to advertisement for the receipt of pro-
<br />posals for the purchase of the Second Series A of Preliminary
<br />Loan Notes (herein sometimes called "New Preliminary Loan Notes ")
<br />of the Local Public Agency aggregating $1,375,000.00, which
<br />appeared in a Notice of Sale published in the July 10, 1962
<br />issue of the Daily Bond Buyer in the City of New York, proposals
<br />for the purchase of said New Preliminary Loan Notes in the form
<br />approved by the Local Public Agency were received, opened, and
<br />can assed at the time and place mentioned in said advertisement,
<br />to it: At 129 West Colfax Avenue in the City of South Bend,
<br />Indiana, at 1:00 o'clock, P.M., E.D.S.T,, July 24, 1962, which
<br />proposals are as follows;
<br />Interest Principal
<br />Nam of Bidder Rate Amount Premium
<br />Chemical
<br />Bank New York Trust Co.
<br />1.92%
<br />$1,375,000
<br />$25.00
<br />New
<br />York 15, New York
<br />Morgan
<br />Guaranty Trust Co. of N. Y.
<br />1.8W.
<br />$1,375,000
<br />$26.00
<br />New
<br />York 15, New York
<br />Continental
<br />Illinois National Bank
<br />1.79•%
<br />$1,375,000
<br />•0-
<br />& Trust
<br />Co. of Chicago
<br />Chicago
<br />90, Illinois
<br />Sal
<br />Mon Bros. & Hutzler
<br />1.76°
<br />$1,375,000
<br />$37.00
<br />New
<br />York 5, New York
<br />
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