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RESOLUTION NO. 166 <br />A RESOLUTION OF <br />THE SOUTH BEND REDEVELOPMENT AUTHORITY <br />APPROVING THE EXECUTION OF A NOTE AND OTHER RELATED DOCUMENTS <br />CONCERNING REFINANCING OF SECTION 108 LOAN <br />WHEREAS, the South Bend Redevelopment Authority ("Authority") has been created <br />pursuant to Ind. Code § 36-7-14.5 as a separate body, corporate and politic, and as an <br />instrumentality of the City of South Bend, Indiana to finance local public improvements; and <br />WHEREAS, the Authority, as "Borrower", has previously entered into an agreement with <br />the Department of Housing and Urban Development under Section 108 of the Housing and <br />Community Development Act of 1974, as amended from time-to-time, and has executed a Note <br />and various other documents related thereto; and <br />WHEREAS, the Authority now desires to refinance the Section 108 transaction as a cost <br />savings measure and, upon advice of legal counsel,. to execute those documents necessary to <br />accomplish the refinancing. <br />NOW THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Authority <br />as follows: <br />1. The President, Vice President, and Secretary of this Authority and each of them <br />is hereby authorized to take all actions and to execute all such instruments upon advice of <br />legal counsel as are necessary or desirable to accomplish the transactions contemplated <br />by this Resolution. <br />2. This Resolution shall be in full force and effect from and after its passage by the <br />Authority. <br />ADOPTED at a meeting of the South Bend Redevelopment Authority held. on M_a~21, <br />2008 at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. <br />CITY OF SOUTH BEND, INDIANA <br />REDEVELOPMENT AUTHORITY <br />/ J'ignature ~~ <br />Jose Alvarez, President <br />Prime Name an Tit e <br />Raphael 'Thomas , Secretary <br />Printe ame an fit e <br />• <br />F:\DATA\SHARE1Lego1\Wpdata\Cheryl GVvtatters_BOnds &. Financing\Section 108, 2008 Refinance\Res_ Authority_Execute Ibcuments.doc <br />