1998-10-19 Resolution 130 - Laserfiche WebLink

Home Browse Search

• SUMMARY STATEMENT SOUTH BEND REDEVELOPMENT AUTHORITY Lease Rental Revenue Refunding Bonds of 1998 (Blackthorn Golf Course Project) r1 ~J r~ (This Summary Statement contains certain information which has been summarized for quick reference only and does not purport to represent the significant matters contained in documents described and exhibited elsewhere herein. Prospective investors should read the complete Official Statement including the Appendices.) Issuer ......................................................................... South Bend Redevelopment Authority (the "Authority") Securities Offered ................................................... $6,245,000* Lease Rental Revenue Refunding Bonds of 1998 (Blackthorn Golf Course Project) (the "Refunding Bonds") Bonds Presently Outstanding ............................... See APPENDIX B - SOUTH BEND REDEVELOPMENT AUTHORITY DEBT AND TAXATION for a complete listing of all outstanding debt of the Authority. Security ..................................................................... The Refunding Bonds are payable as to principal, redemption premium, if any, and interest from rent payable to Norwest Bank Indiana, N.A., Fort Wayne, Indiana, as trustee (the "Trustee'), by the South Bend Redevelopment Commission (the "Commission'), as lessee, under a lease of certain property. Funds for the lease rental will be generated from unlimited ad valorem property taxes levied on all taxable property within the South Bend Redevelopment District in an amount which together with Project-related Revenue (as defined herein) will be equal to the lease rental. See "SECURITY AND SOURCES OF PAYMENT FOR THE REFUNDING BONDS" herein. Ratings ...................................................................... Ratings of the Refunding Bonds being offered herein have been applied for by the Authority. The Authority has furnished to bond rating agencies, at their request, supplemental information relating to the finances of the Authority which has not been included in this Official Statement. There is no assurance that said agencies will grant ratings; nor what ratings may be granted; nor for what definitive period such ratings would be in effect, changed or withdrawn. Notice of Intent to Bid .............................. Notice of Sale Date ................................................. Anticipated Closing Date ..................................... Dated Date .............................................................. Interest Payment Dates .............................. * Approximate Amount Submitted by November 6, 1998 at 4:00 P.M. E.S.T. (See "NOTICE OF INTENT TO SELL" herein.) To be provided to interested bidders not less than 24 hours before sale. Anticipated to be November 10, 1998 10:00 A.M. E.S.T. The Authority anticipates delivery of the Refunding Bonds on or about November 24,1998. November 1,1998 March 1 and September 1, commencing March 1,1999. -1-