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1988-07-08 Resolution 10
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1988-07-08 Resolution 10
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APPENDIX E <br />RESOLUTION N0. 849 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />• COMMISSION ESTABLISHING CERTAIN FUNDS AND <br />ACCOUNTS IN CONNECTION WITH THE LEASE DATED <br />AS OF JUNE 1, 1988, BETWEEN THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AND THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY RELATING TO THE <br />STANLEY COVELESKI REGIONAL STADIUM, <br />AND OTHER RELATED MATTERS <br />WHEREAS, the South Bend. Redevelopment Authority (the <br />"Authority") has been created pursuant to I.C. 36-7-14.5 as a <br />separate body, corporate and politic, and as an instrumentality <br />of the-City of South Bend to finance local public improvements <br />for lease to the South Bend Redevelopment Commission (the <br />"Commission"); and <br />WHEREAS, the Authority intends to issue bonds in the <br />aggregate amount of $5,685,000 pursuant to I.C. 36-7-14.5-19 to <br />be known as the "South Bend Redevelopment Authority Lease Rental <br />Revenue Bonds (Coveleski Stadium Project)" (the "Bonds"), the <br />proceeds of which are to be used to finance the acquisition of a <br />stadium facility known as the "Stanley Coveleski Regional <br />Stadium" (the "Facility"), including the site thereof, and to pay <br />the costs of issuance of the Bonds; and <br />WHEREAS, the Authority intends to lease the Facility to <br />the Commission pursuant to a lease dated as of June 1, 1988 (the <br />"Lease"), which Lease was heretofore approved by this Authority; <br />and <br />WHEREAS, it is necessary for the Commission to establish <br />certain funds and accounts for the payment of the rentals owed by <br />the Commission pursuant to said Lease; <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />Redevelopment Commission as follows: <br />
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