2001-04-16 Resolution 145 - Laserfiche WebLink

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provides for, among other things, the sale of the Bonds to the Underwriter at a price not less than ninety-nine percent (99%) 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 (i) advance refunding the Refunded Bonds, (ii) the 2001 Project and (iii) the 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 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 Bond Purchase Agreement executed on behalf of the Authority, but in no event earlier than August 1, 2001. 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 August 1, 2010, maybe 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 February 1, 2010, or any date thereafter from any moneys made available for such purpose, at a redemption price equal to the par amount thereof, plus in each case accrued interest to the date fixed for redemption. -3- ::ODMA\IvII30DMA\SBIMAN l ; 91771;1