No. 0022 approving/providing execution of posposed loan/capital grant contract No. INDIANA R-7(LG), establishing a project expenditures account and for other purposes

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IR ESi®1L MT'I['IIQDM NO.. ZZ RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION, GOVERNING BODY OF THE CITY OF SOUTH BEND, DEPARTMENT OF REDE ELOPMENT, APPROVING AND PROVIDING FOR THE EXECUTION OF A PROPOSED LOAN AND CAPITAL GRANT CONTRACT NUMBERED CONTRACT NO. INDIANA R -7 (LG), BETWEEN CITY OF SOUTH BEND, DEPARTMENT OF REDEVELOPMENT AND THE U N I T E D S T A T E S OF AMERICA, PERTAINING TO A CERTAIN PROJECT DESIGNATED PROJECT NO. INDIANA R -7, AND ESTABLISHING A P R O J E C T EXPENDITURES ACCOUNT WITH RESPECT TO SAID PROJECT, AND FOR C PURPOSES. WHEREAS, under Title I of the Housing Act of 1949, as amended, the United States of America (herein called the "Government ") has tendered to the City of South Bend, Department of Redevelopment (herein called the "Locaql Public Agency ") a proposed Loan and Capital Grant Contract under which the Government agrees to make a Project Temporary Loan, a Project Definitive Loan, and a Project Capital Grant to the Local Public Agency to aid in financing an urban renewal project, designated Project No. Indiana R -7, in the urban renewal area described therein; and WHEREAS the Local Public Agency has given due consideration to said x purs sed Contract; and WHEREAS the Local Public Agency is duly authorized, under and to the Constitution and laws of the State of Indiana to undertake and cz rry out said Project and to execute such proposed Contract; and WHEREAS under said proposed Contract it is required, among other things, that, with respect to said Project, the Local Public Agency shall - 1 -