1988-06-17 Resolution 6 - Laserfiche WebLink

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SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate and politic, duly organized and existing under the laws of the State S of Indiana (hereinafter called the "Authority"), for value received, hereby promises to pay to the Registered Owner (named above) or registered assigns, solely out of the Pledged Funds (hereinafter referred to) the Principal Sum set forth above on the Maturity. Date set forth above (unless this Bond is subject to and shall have been duly called for prior redemption and payment made as provided for herein), and to pay interest hereon solely from such Pledged Funds until the Principal Sum shall be fully paid at the rate per annum stated above from the interest payment date to which interest has been paid next preceding the Authentication Date of this Bond unless this Bond is authenticated after the fifteenth day of the month preceding an interest payment date and on or before such interest payment date in which case it shall bear interest from such interest payment date, or unless this Bond is authenticated on or before January l5, 1989, in which case it shall bear interest from the Original Date, which interest is payable on February 1 and August 1 of each year, beginning on February 1, 1989. Interest on this Bond is payable by check or draft. mailed one business day prior to the interest payment date to the person in whose name this Bond is registered on the fifteenth day of the month preceding such interest payment date. Principal and premium, if any, of this Bond are payable in lawful money of the United States of America at the principal office of First Interstate Bank of Northern Indiana, N.A., in South Bend, Indiana. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF DULY SET FORTH HEREIN.. (Reverse of Bond) This Bond is one of an authorized issue. of Bonds of the South Bend Redevelopment Authority, all of like date, tenor and effect (except as to numbering, denomination, interest rates and dates of maturity), in the aggregate principal amount of Four Million Five Hundred Seventy-five Thousand Dollars ($4,575,000), issued under and in accordance with, and all equally and ratably entitled to the benefits of, and ratably secured by, a Trust Agreement (hereinafter called the "Agreement"), dated as of June 1, 1988, executed by the Authority and First Interstate Bank of Northern Indiana, N.A., as Trustee, to which reference is hereby made for a description of the rentals and other income (the "Pledged Funds") pledged as security for the payment of the Bonds and interest thereon and the rights under said Agreement of the Authority, the holders of the Bonds and the Trustee, to all of which the holders hereof, by the acceptance of this Bond, agree. The Authority covenants that one business day prior to February 1 and August 1 in each year, beginning with February 1, 1989, it will pay to the Trustee, prior to the due date, an -7-