1998-10-19 Resolution 130 - Laserfiche WebLink

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2 r1 ` tY • TRUST AGREEMENT THIS AGREEMENT (the "Agreement"), executed and dated as of the 1St day of November, 1998, made and entered into between SOUTH BEND REDEVELOPMENT ' AUTHORITY, a public body corporate and politic, organized and existing under Indiana Code 36- 7-14.5, as amended (hereinafter called the "Authority"), and NORWEST BANK INDIANA, N.A., a national banking association having its principal office in the City of Fort Wayne, Indiana (hereinafter called the "Trustee"), WITNESSETH: WHEREAS, the Authority was created-under and pursuant to the provisions of Indiana Code 36-7-14.5 (hereinafter referred to as the "Act"), for the purpose of financing local public improvements for lease to the South Bend Redevelopment Commission (hereinafter referred to as the "Commission"); and WHEREAS, the Authority issued $5,680,000 of lease rental revenue bonds in 1992, the proceeds of which were used to finance the acquisition of certain land and the construction of certain public improvements located in the Airport Economic Development Area (the "Project") and to pay the costs of issuance of said bonds; and • WHEREAS, the Authority entered into a lease of the Project with the Commission dated as of July 1, 1992, as subsequently amended by the Commission and the Authority on October 2, 1992 (the "Lease"); and WHEREAS, the Authority has determined to borrow the sum of Million Hundred Thousand and 00/100 Dollars ($ )for the purpose of procuring funds to pay the cost of refunding the outstanding bonds issued in 1994, and to execute and issue its Lease Rental Revenue Refunding Bonds of 1998 in the form and terms as hereinafter provided; and WHEREAS, the Authority intends to further. amend the Lease with the Commission for said Project; and WHEREAS, in order to secure the principal of and premium, if any, and interest on all of said Bonds and the performance of the covenants herein contained, the Authority has in like manner determined to execute and deliver this Agreement; and WHEREAS, all acts, proceedings and things necessary and required by law to make said Bonds, when executed by the Authority and authenticated by the Trustee, the valid, binding and legal obligations of the Authority and to constitute and make this Agreement a valid agreement to secure the payment of the principal of and premium, if any, and interest on the Bonds, have been done, taken and performed, and the issuance, execution and delivery of said Bonds, and the ::ODMA\PCDOCS\SB DOCS 1 \24203\2