1988-07-08 Resolution 10 - Laserfiche WebLink

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APPENDIX A ~, [STADIUM OPINION] 1988 Re: South Bend Redevelopment Authority. Taxable Lease Rental Revenue Bonds _ (Coveleski Stadium Proiect~ Gentlemen: We have acted as bond counsel in connection with the issuance by the South Bend Redevelopment Authority (the "Issuer") of Five Million Six Hundred Eighty-five Thousand Dollars ($5,685,000) aggregate principal amount of South Bend Redevelopment Authority Taxable Lease Rental Revenue Bonds (Coveleski Stadium Project) originally dated 1, 1988 (the "Bonds"), pursuant to a Trust Agreement (the "Trust Agreement") between the Issuer and First Interstate Bank of Northern Indiana., N.A., as Trustee (the "Trustee"), dated as of June 1, 1988. We have examined a certified transcript of proceedings and such other certificates and documents and have reviewed such other proceedings and such questions of law as we have deemed necessary as a basis for this opinion. It is understood that the rights of the holders of the Bonds and the enforceability of the Bonds and the Trust Agreement, as well as the rights of the Issuer and the Trustee .and the enforceability of the Lease between the Issuer, as lessor, and the South Bend Redevelopment Commission (the "Commission"), as lessee, dated as_of June 1, 1988, may be subject to bankruptcy, insolvency, reorganization, rearrangement, receivership, moratorium and other laws and matters of public policy affecting creditors'. rights heretofore or hereafter enacted to the extent constitutionally applicable and that their enforcement may also be subject to the exercise of judicial discretion and general principles of equity in appropriate cases.