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6. C NEW BUSINESS (Cont'd) k. Resolution No 451: This resolution authorizes the ution of Amend atory ontract No. 2 for the Model Cities Enforcement Project, Indiana E -5. Mr Lennon said this also refers to previous Item 4b, HUD communication. Same, with the exception this will be in the Model Cities Code Enforcement Project, Ind. E -5, with a grant amount of $52,500. Again after the Commission adoption of this Resolution, the City Council Resolution will be presented at the next meeting -- Wednesday. On motion by Mr. Chenney, seconded by Mr. Wiggins and unani- mo sly carried, Resolution No. 451 was adopted. 1. Resolution No. 452: This resolution authorizes the sale, issuance and delivery of project notes and the execu- ti n of requisition agreements for the Neighborhood Develop - me t Program, Indiana A -10. This is the Master Resolution fo A -10, authorizing the sale of Project Loan Notes. Mr. Lennon advised this refers to Resolution No. 449 to give this permission, authorizes the execution of the Basic Loan Note between the Commission and HUD. The Master Resolution now under consideration authorizes the issuance of loan notes on the private money market, using the Basic Loan Note as security. Immediately upon the passage of the Resolution, the staff will requisition first private financing transaction, a maximum loan amount for a one -year period including sufficient amount to repay direct loan requisitioned upon the Basic Loan Note for the first three months. It will take approximately three months to retain cash from this loan note sale. On inotion by Mr. Wiggins, seconded by Rev. Williams, Resolu- tion No. 452 was adopted. m. Resolution No. 453: This resolution approves and directs the execution of Amendatory Contract No. 2 with the United States of America for the Central Downtown Project, Indiana R -66. Mr. Letter said this also refers to the original HUD letter, and r 4d, Communications, which directs the execution of the Amendatory Contract No. 2 for $2 Million Dollars. On otion by Mr. Chenney, seconded by Mr. Wiggins and unani- mou ly carried, Resolution No. 453 was adopted. n. Four (4) Rehabilitation Grants: was requested for four 4 rehabilitation Nor heast Code Enforcement Project, E -3, - 12 - Commission approval grants, for the for the following: RESOLUTION NO. 451 ADOPTED, E -5 RESOLUTION NO. 452 ADOPTED, A -10 RESOLUTION NO. 453 ADOPTED, R -66 FOUR (4) REHABILITA- TION GRANTS APPROVED, PARCEL NOS. 9 -139 17 -5, 36 -24 & 39 -3, E -3