1998-10-19 Resolution 130 - Laserfiche WebLink

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• OFFICIAL STATEMENT $6,245,000* SOUTH BEND REDEVELOPMENT AUTHORITY Lease Rental Revenue Refunding Bonds of 1998 (Blackthorn Golf Course Project) INTRODUCTORY STATEMENT The purpose of this Official Statement, including the cover page, the Summary Statement and the Appendices, is to provide information relating to the Lease Rental Revenue Refunding Bonds of 1998 (the "Refunding Bonds") to be issued by the South Bend Redevelopment Authority (the "Authority"). The Authority, a public body corporate and politic, was organized for the purpose of financing and leasing local public improvements to the South Bend Redevelopment Commission (the "Commission"). All financial and other information presented in this Official Statement has been provided by sources deemed reliable and is intended to show recent historic information and is not intended to indicate or project future or continuing trends in the financial position or other affairs of the Authority or the Commission. No representation is made or implied hereby that any past experience, as might be shown by the financial and other information, will necessarily continue in the future.. References to provisions of Indiana law or the Indiana Constitution are references to current provisions which maybe amended, repealed or supplemented. DESCRIPTION OF THE REFUNDING BONDS General The Refunding Bonds are being issued pursuant to Indiana Code 36-7-14.5 (the "Act") and in accordance with a Trust Agreement (the "Agreement") between the Authority and Norwest Bank Indiana, N.A., Fort Wayne, Indiana, as trustee (the "Trustee'), to procure funds for the advance refunding of the Authority's Lease Rental Revenue Bonds of 1992 (Blackthorn Golf Course Project) (the "1992 Bonds'), to lower required lease rental payments and to pay expenses incidental to the issuance of the Refunding Bonds. The Refunding Bonds shall be issued in the aggregate principal amount of $6,245,000* in fully registered form and in the denomination of $5,000 or any integral multiple thereof and shall bear interest at a rate or rates to be determined by bidding. The Refunding Bonds shall mature on March 1 in the years and amounts as shown on the cover of this Official Statement. Interest on the Refunding Bonds is payable semi-annually on March 1 and September 1 of each year, commencing March 1,1999. Interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months. * Approximate Amount -8-