Laserfiche WebLink
WHEREAS, the Authority intends to send written notice of redemption (the "Notice <br />• <br />of Redemption") to Norwest Bank Indiana, N.A., trustee of the Refunded Bonds (the "Trustee") as <br />required by Section 4.02 of the Trust Agreement dated as of October 1, 1992 between the Authority <br />and the Trustee (the "Refunded Bonds Trust Agreement"); <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment <br />Authority as follows: <br />Section 1. The Authority hereby approves the award of the bonds in an aggregate <br />principal amount of Six Million One Hundred Thirty-five Thousand and 00/100 Dollars <br />($6,135,000.00) and maturing serially on March 1 in the years and in the principal amounts and <br />bearing interest at the rates as follows: <br />Year Principal Amount Interest Rate <br />1999 $ 120,000 3.25% <br />• <br />2000 155,000 3.65% <br />2001 205,000 3.90% <br />2002 270,000 4.00% <br />2003 330,000 4.10% <br />2004 395,000 4.20% <br />2005 430,000 4.30% <br />2006 445,000 4.35% <br />2007 465,000 4.40% <br />2008 485,000 4.50% <br />2009 520,000 4.60% <br />2010 540,000 4.70% <br />2011 565,000 4.75% <br />2012 590,000 4.80% <br />2013 620,000 4.80% <br />Section 2. The Addendum is hereby approved in the form presented to this meeting <br />and the President and Secretary-Treasurer are hereby authorized to execute and attest, respectively, <br />said Addendum. The Lease shall be amended as of the date (the "Deposit Date") when the <br />• <br />-3- <br />::ODMA\PCDOCS\SBDOCS 1\26373\ 1 <br />