2003-06-18 Resolution 153 - Laserfiche WebLink

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v • including such financial advisor and attorney fees and other professional service fees necessary for completion of the Project. NOW TIIEREFORE, BE IT RESOLVED by the South- Bend Redevelopment Authority and the South Bend Redevelopment Commission as follows: 1. The Authority hereby determines to issue its Authority Bonds pursuant to I.C. 36- 7-14.5-19 and I.C. 5-1.5, and the Commission hereby determines to issue its Commission Bonds pursuant to 36-7-14-25.1 and I.C. 5-1.5, to obtain money to pay for the costs of the Project. 2. The Authority and the Commission reasonably expect to reimburse expenditures for the Project and expenses related thereto with proceeds of Bonds expected to be issued by the Authority and/or the Commission for all or part of the Project in the anticipated amount of approximately $ 22 ,000,000. 3. The Authority hereby establishes its intent, pursuant to I.C. 5-1-14-6, to reimburse itself, the Commission and the City for preliminary costs and expenses incurred or advanced in financing the Project from the proceeds of the Authority Bonds when issued. 4. The Commission hereby establishes its intent, pursuant to I.C. 5-1-14-6, to reimburse itself and the City for preliminary costs and expenses incurred or advanced in financing the Project from the proceeds of the Commission Bonds when issued. 5. The Authority and the Commission hereby declare their official intent to issue Bonds, in an aggregate principal amount not to exceed $22 ,000,000, and to reimburse the costs of and expenditures for the Project with the proceeds of such debt. 6. This Joint Resolution constitutes a declaration. of official intent of the Authority C~ and the Commission to reimburse expenditures under Tres. Reg. § 1.150-2(e) and Indiana Code § 5-1-14-6(c). 2