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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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3/21/2013 4:22:24 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1993
Ord-Res Number
8443-93
Bill Number
108-93
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Agreements which require their signature, and their execution <br />is hereby confirmed on behalf of the City of South Bend and <br />any other documents which may be necessary or desirable to <br />consummate the transaction, including the Bonds authorized <br />herein. The Clerk is authorized to arrange for the delivery <br />of such Bonds to the purchasers thereof upon payment therefor <br />which will be made to the Trustee. The Mayor and Clerk may <br />by their execution of the Financing Agreements and the Bonds <br />approve chances therein without further approval of this <br />Common Council or the South Bend Economic Development Commis- <br />sion if such changes do not effect the terms set forth in <br />Sections 27(a)(1) through 27(a)(10) of IC 36 -7 -12. <br />Section 6. This Common Council further finds that the <br />refinancing of the Project will not have an adverse com- <br />petitive impact on other facilities of the same kind already <br />operating in the same market area, that the refinancing will <br />help retain existing employment and will be of benefit to the <br />health and general welfare of the City. <br />Section 7. The City of South Bend hereby calls the <br />Prior Bonds (as defined in the Indenture) for redemption on <br />the respective dates set forth in the Indenture as executed <br />and requests the trustee for the Prior Bonds to give notice <br />of such redemption in the manner set forth in the applicable <br />Indenture securing the Prior Bonds. <br />Section 8. The provisions of this Ordinance and the <br />Indenture securing the Bonds shall constitute a contract <br />binding between the City of South Bend and the owners of the <br />Bonds, and, except as provided in the Indenture or Loan <br />Agreement, after the issuance of said Bonds this Ordinance <br />shall not be repealed or amended in any respect which would <br />adversely affect the right of such owners so long as any of <br />said Bonds or the interest thereon remains unpaid. <br />Section 9. This Ordinance shall constitute the approval <br />of the Bonds pursuant to Section 147(f) of the Internal <br />Revenue Code of 1986. <br />Section 10. This Ordinance shall be in full force and <br />effect from and after compliance with procedures required by <br />the Act. <br />1st READING <br />PUBLIC HEARING <br />3 rd READING <br />NOT APPROVED 3 <br />REFERRED <br />PASSED a 3_� <br />3 <br />. -�. <br />Filed in Clerk's 'Office <br />Nov 2 3 1993 <br />IRENE OAMM <br />CITY CLERK. $0. SEND, IN. <br />
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