$11,000 Multifamily Housing Revenue Refunding Bonds The Pointe at St Joseph Project

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• • ORDINANCE NO. 11 3 7 4' ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA RE: $11,000,000 CITY OF SOUTH BEND, INDIANA MULTIFAMILY HOUSING REVENUE REFUNDING BONDS (THE POINTE AT ST. JOSEPH PROJECT) SERIES A AND SERIES B AND NOT MORE THAN $625,000 CITY OF SOUTH BEND, INDIANA MULTIFAMILY HOUSING REVENUE BONDS (THE POINTE AT ST. JOSEPH PROJECT) SERIES A AND SERIES B THIS ORDINANCE AUTHORIZES: 1. THE ISSUANCE AND SALE OF TWO SERIES OF MULTIFAMILY HOUSING REVENUE REFUNDING BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF ELEVEN MILLION DOLLARS ($11, 000, 000) FOR THE PURPOSE OF LOANING THE PROCEEDS TO CAN-AMERICAN SOUTH BEND LIMITED PARTNERSHIP (THE "OWNER" ) TO REFUND IN PART THE ISSUER'S $11, 000, 000 MULTIFAMILY HOUSING REVENUE BONDS (RAINTREE POINT ASSOCIATES, LTD. PROJECT) ORIGINALLY ISSUED PURSUANT TO ORDINANCE NO. 7568-85 AND REMARKETED PURSUANT TO ORDINANCES NO. 7857-88 AND NO. 7917-88, TO FINANCE THE ACQUISITION AND CONSTRUCTION OF A MULTIFAMILY RENTAL HOUSING PROJECT TO BE LOCATED IN THE CITY OF SOUTH BEND, INDIANA; AND 2 . THE ISSUANCE AND SALE OF TWO SERIES OF MULTIFAMILY HOUSING REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT EXCEEDING SIX HUNDRED AND TWENTY-FIVE THOUSAND DOLLARS ($625, 000) FOR THE PURPOSE OF LOANING THE PROCEEDS THEREOF TO THE DEVELOPER TO FINANCE THE ACQUISITION AND CONSTRUCTION OF A MULTIFAMILY RENTAL HOUSING PROJECT TO BE LOCATED IN THE CITY OF SOUTH BEND, INDIANA; AND 3. THE EXECUTION AND DELIVERY OF A TRUST INDENTURE, FIRST SUPPLEMENTAL TRUST INDENTURE, LOAN AGREEMENT, TWO BOND PURCHASE AGREEMENTS AND AN AMENDED AND RESTATED REGULATORY AGREEMENT; AND 4 . OTHER MATTERS RELEVANT TO THE ISSUANCE AND SALE OF THE BONDS. STATEMENT OF PURPOSES OF INTENT PREMISES The City of South Bend, Indiana (the "City" ) is empowered under 36-7-12-1 et. seq. of the Indiana Statutes, as amended (the "Act" ) , to assist in the financing of economic development