1988-07-08 Resolution 10 - Laserfiche WebLink

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T ti r x NOTICE OF INTENT TO SELL $5,685,000 SOUTH BEND REDEVELOPMENT AUTHORITY TAXABLE LEASE RENTAL REVENUE BONDS (COVELESKI STADIUM PROJECT) (Unlimited Tax) Upon not less than twenty-four (24) hours' notice given by telephone by or on behalf of the South Bend Redevelopment Authority (the "Authority") prior to September I, 1988, the Authority will receive in the office of the Authority, 1200 County-City Building, South Bend, Indiana, and consider, bids for the purchase of the lease rental revenue bonds of the Authority designated as 'South Bend Redevelopment Authority Taxable Lease Rental Revenue Bonds (Coveleski Stadium. Project)," in the aggregate principal amount of Five Million Six Hundred Eighty-Five Thousand Dollars ($5,685,000), bearing interest at a rate or rates not exceeding twelve percent (12%) per annum (the exact rate or rates to be determined by bidding), which interest shall be payable on March I, 1989, and semiannually thereafter on March I and September I of each. year. Said bonds will be issued in fully registered form in the denominations of $5,000 or an integral multiple thereof not exceeding the aggregate principal amount of bonds maturing in any year, will be originally dated as of the first day of the month in which they are to be originally delivered, will be numbered consecutively, and will mature serially on March I and September I in the years and amounts as follows: Year Amount 3 - I - 1989 $225, 000 9 - I - 198 9 240, 000 3 - I - 1990 250, 000 9 - I - 1990 260, 000 3 - I -1991 270, 000 9-I-1991 285,000 3 - I - 1992 2 95 , 000 9 - I - 1992 3 10, 000 3 - I - 1993 3'25, 000 9 -1- 1993 340, 000 3 -1- 1994 355, 000 9-1-1994 375,000 3 -1- 1995 390, 000 9 - I - 1995 410, 000 3 -1- 1996 43 0, 000 9-I-1996 450,000 3 - I - 1997 475, 000 Principal payments on the bonds will be payable at the principal office of First Interstate Bank of Northern Indiana, N. A., as Trustee under the Trust Agreement (defined below) (the "Trustee"). Payments of interest on the bonds will be paid by check or draft mailed one business day prior to the interest payment date to the person in whose name each bond is registered on the fifteenth day of the month immediately preceding the interest payment- date. The bonds will be registered as to principal and at the option of the Authority interest. The bonds may be redeemed prior to maturity , in whole or in part, in whole multiples of $5,000, in inverse order of maturity and by lot