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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Re s o: No. 22 y set up, and maintain in a bank or banks which are members of the Federal Deposit Insurance Corporation, a separate and special fund desig ated "Project Expenditures Account; Project No. Indiana R -711, into whit shall be deposited certain funds described in said proposed Contract: BE IT RESOLVED BY the South Bend Redevelopment Commission, Governing Body of the City of South Bend, Department of Redevelopment, AS FOLLOWS: Section 1. The proposed Contract, designated "Loan and Capital Gran Contract, Contract No. Indiana R -7 (LG)", consisting of Parts I and II, under and subject to the provisions, terms, and conditions of which the Government will make a Project Temporary Loan, a Project Definitive Loan, and a Project Capital Grant under Title I of the Housing Act of 1949, as amen ed, to the Local Public Agency to aid in financing an urban renewal project, designated Project No. Indiana R -7, situated in the City of South Bend Indiana, is hereby in all respects approved. Section 2.' The President of the South Bend Redevelopment Com- miss on is hereby authorized and directed to execute said proposed Con- tract in two counterparts on behalf of the Local Public Agency, and the Secretary of the South Bend Redevelopment Commission is hereby author- ized nd directed to impress and attest the official seal of the Local Public Agency on each such counterpart and to forward such counterparts to the Housing and Home Finance Agency, together with such other documents relat've to the approval and execution thereof as may be required by the Gove nment . de sik Section 3. The Local Public Agency agrees to abide by all of the ions, terms, and conditions of said Contract. Section 4. With respect to this Project of the Local Public Agency, ated Project No. Indiana R -7, there is hereby established a separate - 2 -