2008-03-13 Resolution 165 - Laserfiche WebLink

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NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Authority, as follows: 1. The Authority hereby approves the sale of the Bonds to the Underwriter in an aggregate principal amount and maturing on February 15 and August 15 in the years and in the principal amounts and bearing interest at the rates as set forth on Exhibit A. 2. The Authority hereby amends Section 3 of the Bond Resolution as follows: Section 3. The Bonds maturing on or after August 15, 2018 shall be redeemable prior to maturity at the option of the Authority, in whole or in part in whole multiples of Five Thousand Dollars ($5,000), in amounts and maturities to be determined by the Authority and by lot within maturities, on any date not earlier than February 15, 2018, from any moneys made available for that purpose, at a redemption price equal to one hundred percent (100%) of the principal amount of each Bond to be redeemed, and without premium, plus accrued interest to the redemption date. In the event the Authority is unable to begin construction of the Project on July 1, 2008, such that the Project cannot be completed on or before the Completion Date (as defined in the Trust Agreement), the Bonds shall be subject to extraordinary optional redemption by the Authority in whole and not in part on any date before July 1, 2008, at the redemption prices as set forth in the Trust Agreement, plus accrued interest to the redemption date. 3. The Addendum, attached hereto as Exhibit B, is hereby approved and the President or Vice President and Secretary-Treasurer of the Authority are hereby authorized to execute and attest, respectively, said Addendum in substantially the form presented at this meeting with such changes in form or substance as the President or Secretary of this Authority shall approve, such approval to be conclusively evidenced by the execution thereof. 4. All remaining terms, covenants and conditions set forth in the Lease and the Bond Resolution shall remain in full force and effect. This resolution shall be in full force and effect after its adoption by the Authority. • ~***~: BDDBOI 5153575v1 - 2 -