1998-10-19 Resolution 130 - Laserfiche WebLink

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• NOTICE OF INTENT TO SELL $6,245,000 (Estimated) SOUTH BEND REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE REFUNDING BONDS OF 1998 (BLACKTHORN GOLF COURSE PROJECT) Upon not less than twenty-four (24) hours' notice given by telephone or facsimile by or on behalf of the South Bend Redevelopment Authority (the "Authority") the Secretary-Treasurer of the Authority will receive or cause to be received in the office of the Authority, 1200 County- City Building, South Bend, Indiana, and consider sealed bids for the purchase of the lease rental revenue bonds of the Authority designated as "South Bend Redevelopment Authority Lease Rental Revenue Refunding Bonds of 1998 (Blackthorn Golf Course Project) (the "Bonds"), in the estimated aggregate principal amount of Six Million Two Hundred Forty-five Thousand and 00/100 Dollars ($6,245,000.00), bearing interest at a rate or rates not exceeding seven percent (7.0%) per annum (the exact rate or rates to be determined by bidding), which interest shall be .payable on March 1, 1999, and semiannually thereafter on September 1 and March 1 of each year. Please note that the Authority is not required to, and shall not be deemed by virtue of this notice, to have elected to comply with the public sale provisions of the Indiana Code. Award of the Bonds will be made as further described hereinbelow. The Bonds will be issued in fully registered form in the denominations of $5,000 or an integral multiple thereof not exceeding the aggregate principal arnounfi of the Bonds maturing in any year, will be originally dated as of the first day of the month in which they are originally delivered, will be numbered consecutively, and will mature serially on March 1, in the years and estimated amounts as follows: Year Amount Year Amount 1999 $145,000 2006 $445,000 2000 190,000 2007 465,000 2001 240,000 2008 485,000 2002 305,000 2009 505,000 2003 365,000 2010 525,000 2004 415,000 2011 550,000 2005 430,000 2012 575,000 2013 605,000 Following the receipt of bids and determination of the successful bidder, the Authority reserves the right to resize the principal maturities of the Bonds to provide sufficient funding of the escrow account that will be established to refund the bonds hereinbelow described. THE AUTHORITY RESERVES THE RIGHT TO INCREASE OR DECREASE THE INDIVIDUAL PRINCIPAL AMOUNT OF THE BONDS MATURING IN THE YEARS 1999 THROUGH 2013 • BY AN AMOUNT NOT TO EXCEED $100,000 PER MATURITY. IN NO EVENT SHALL THE RESIZING OF THE PRINCIPAL MATURITIES OF THE BONDS CAUSE THE TOTAL PRINCIPAL AMOUNT OF THE BONDS TO BE ISSUED TO EXCEED $7,000,000. -3-