RM 07-07-60 - Laserfiche WebLink

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Re s oludon No. 18 emi- annually thereafter on January 1 and July I of each year, pon presentation and surrender of the annexed interest coupons s they severally become due. Both principal and interest of this bond are payable in Lwful money of the United States of America at the office of the reasurer of St. Joseph County, ex officio Treasurer of said edevelopment District. This bond is one of an authorized issue of one thousand ne hundred (1, 100) bonds of like date and tenor, except as to umbering and dates of maturity, in the total amount of One Zillion One Hundred Thousand Dollars ($1, 100, 000), issued by ie South Bend Redevelopment District pursuant to a resolution dopted by the South Bend Redevelopment Commission on July 7, 960, and in strict compliance with Chapter 176 of the Acts of 953, as supplemented by Chapter 187 of the Acts of 1955, for ie purpose of providing funds to pay the cost of acquisition, learance and renewal of the property described in Resolution 'o. 14, adopted by the South Bend Redevelopment Commission n May 5, 1960, and all expenses necessarily incurred in con - ection with said proceedings. This bond does not constitute a corporate obligation or indebtedness of the City of South Bend, but the same is an ob- ligation of the South Bend Redevelopment District and is pay- able only out of the special taxes to be levied upon all of the property within said District and deposited in the Redevelop- ment District Bond Fund of said District. Under the provisions of the authorizing statute, this bond is negotiable as an inland b 11 of exchange. It is hereby certified and recited that all acts, condi- tions and things required by law and the constitution of the State of Indiana to be done precedent to and in the issuance, sale and delivery of this bond have been properly done, hap - p ned and performed in regular and due form as prescribed b r law, and that the total indebtedness of the South Bend Re- d velopment District, including the bonds of this issue, does n t exceed any constitutional -or statutory limitation of indebt- e ness. The City of South Bend, acting by and through its Department of Redevelopment and its Redevelopment Commis- sion covenants that it will cause a special tax for the payment of the bonds of this issue to be levied, collected and applied f r that purpose. IN WITNESS WHEREOF, the South Bend Redevelopment Commission of the City of South Bend, St. Joseph County, State of Indiana, has caused this bond to be signed by the Mayor of said City, in the name of the City of South Bend, for and on - 4 -