My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
8437-93 Approving a Lease Public Improvements South Bend Redevelopment Authority South Bend Redevelopment Commission
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1993
>
8437-93 Approving a Lease Public Improvements South Bend Redevelopment Authority South Bend Redevelopment Commission
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/2/2012 2:09:28 PM
Creation date
10/2/2012 2:09:24 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/29/1993
Ord-Res Number
8437-93
Bill Number
97-93
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
24
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Hundred Ninety-Seven Thousand Nine Hundred Fifty and 00/100 Dollars <br /> ($397,950.00) shall be due on the day that the Century Center <br /> Portion is completed and ready for use or January 28, 1996, <br /> whichever is later. If completion is later than January 28, 1996, <br /> the first installment shall be in an amount which provides for <br /> rental at the rate specified in Exhibit C for the semiannual period <br /> in which the Century Center Portion is completed and ready for use, <br /> prorated from the date of completion until the first January 28 or <br /> July 28 following such date of completion. Thereafter such rentals <br /> for the Century Center Portion shall be payable in advance in <br /> semiannual installments on January 28 and July 28 of each year as <br /> provided for in the lease payment schedule attached hereto as <br /> Exhibit C. <br /> (b) Hall of Fame Portion. The first semiannual rental <br /> installment for the Hall of Fame Portion in the amount of Five <br /> Hundred Ninety-Two Thousand Fifty and 00/100 Dollars ($592,050.00) <br /> shall be due on the day that the Hall of Fame Portion is completed <br /> and ready for use or January 28, 1996, whichever is later. If <br /> completion is later than January 28, 1996, the first installment <br /> shall be in an amount which provides for rental at the rate <br /> specified in Exhibit C for the semiannual period in which the Hall <br /> of Fame Portion is completed and ready for use, prorated from the <br /> date of completion until the first January 28 or July 28 following <br /> such date of completion. Thereafter such rentals for the Hall of <br /> Fame Portion shall be payable in advance in semiannual installments <br /> on January 28 and July 28 of each year as provided for in the lease <br /> payment schedule attached hereto as Exhibit C. <br /> The rental to be paid in semiannual installments by the <br /> Lessee for the Century Center Portion and the Hall of Fame Portion <br /> and the combined rental to be paid in semiannual installments for <br /> the Project are set forth on Exhibit C attached hereto. The last <br /> semiannual rental payment due before the expiration of this Lease <br /> shall be adjusted to provide for rental at the amount specified for <br /> the Project set forth on Exhibit C for the applicable semiannual <br /> period prorated from the date such installment is due to the date <br /> of the expiration of this Lease (without taking into account any <br /> subsequent early termination of this Lease pursuant to Section 2 <br /> hereof) . <br /> After the sale of the Bonds issued by the Authority to <br /> pay the cost of the completion of the Project and other expenses <br /> incidental thereto, the first semiannual lease payment and the sum <br /> of the second and third semiannual rental installments and the sum <br /> of the fourth and fifth semiannual rental installments, and so on, <br /> for the Project shall be reduced to an amount equal to the multiple <br /> of One Thousand and 00/100 Dollars ($1,000.00) next highest to the <br /> highest sum of principal and interest due in any year ending on a <br /> Bond maturity date on such Bonds plus Three Thousand and 00/100 <br /> Dollars ($3,000.00) , payable in equal semiannual installments. <br /> Such amount of reduced annual rental shall be endorsed on this <br /> -4- <br />
The URL can be used to link to this page
Your browser does not support the video tag.