2000-10-02 Resolution 142 - Laserfiche WebLink

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• WHEREAS, there has been prepared and submitted to the Authority a form of Continuing Disclosure Undertaking Agreement to be dated as of the first day of the month in which the Bonds are issued (the "Continuing Disclosure Undertaking Agreement"),between the Authority and Wells Fargo Bank Indiana, N.A., as counterparty (the "Counterparty"), which Continuing Disclosure Undertaking Agreement evidences the Authority's continuing disclosure obligations under Rule 15c2-12 promulgated by the Securities and Exchange Commission (the "Rule"); and WHEREAS, there has been prepared and submitted to the Authority a form of Bond Purchase Contract (the "Purchase Contract"),between the Authority and City Securities Corporation, as underwriter on behalf of itself and one other underwriter (the "Underwriter"), which provides for, among other things, the sale of the Bonds to the Underwriter at a price not less than 99.5 % of par; NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment • Authority as follows: Section 1. In order to pay and finance the costs of currently refunding the Refunded Bonds, 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 Seventeen Million Four Hundred Fifty Thousand and 00/100 Dollars ($17,450,000.00). 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 February 1, 2018, at a maximum rate of interest of six and one-half percent (6.50%) per annum with principal and interest on the Bonds to be paid on February 1 and August 1 of each year that the Bonds are outstanding with the first principal and interest payment date to be determined as set forth in the • -3- ::ODMA\PCDOCS\SBDOCS 1\72632\3