1998-10-19 Resolution 130 - Laserfiche WebLink

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the Authority's continuing disclosure obligations under Rule 15c2-12 promulgated by the Securities and Exchange Commission (the "SEC Rule"); NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment Authority as follows: Section 1. In order to pay and finance the costs of advance refunding the Refunded Bond, and to pay costs of issuance of the Bonds, there is hereby authorized and there shall be executed, issued, and delivered by and on behalf of the Authority, pursuant to I.C. 36-7-14.5-19 and I.C. 5-1-5, the Bonds in the aggregate principal amount not to exceed Seven Million and 00/100 Dollars ($7,000,000.00). Section 2. The Bonds are hereby authorized to be issued under, pursuant to, and in accordance with the Trust Agreement with a final maturity date of no later than March 1, 2013, a maximum rate of interest of seven percent (7.0%) per annum (or such lesser per annum interest rate • or rates as the Authority may establish with the advice of its financial advisor at the time of publication of the notice of intent to sell bonds referred to herein). The proceeds of the Bonds shall be delivered to the Trustee and applied by the Trustee in accordance with the Trust Agreement. Section 3. The Bonds maturing on or after March 1, 2007, may be redeemed prior to maturity, at the option of the Authority in whole or in part, in whole multiples of $5,000, in such order of maturities as the Authority shall direct, and by lot within maturities, on March 1, 2006, or any date thereafter from any moneys made available for such purpose, at a redemption price equal to the following percentages of the principal amount redeemed, plus in each case accrued interest to the date fixed for redemption: • -3- :ODMA\PCDOCS\SBDOCS i \24200\2