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Resolution No. 11 <br /> <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />AUTHORITY REDUCING THE ANNUAL RENTAL ON THE LEASE FOR THE <br />ST. JOSEPH/WAYNE PARKING FACILITY, APPROVING THE EXECUTION <br />OF AN ADDENDUM TO THE LEASE, AND RATIFYING THE SELECTION <br />OF A SUCCESSFUL BIDDER AND THE TERMS OF THE BONDS <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority") <br />at a meeting on June 17, 1988, adopted Resolution No. 6, authorizing <br />the issuance of .the "South Bend Redevelopment Authority Lease Rental. <br />Revenue Bonds (Parking Facility Project)" (the "Bonds"), in an aggre- <br />gate amount of $4,575,000.00 pursuant to IC 36-7-14.5-19 to finance <br />the construction of the St. Joseph/Wayne Parking Facility (the <br />"Facility"), and to pay the costs of issuance of the Bonds; and <br />WHEREAS, a Notice of Intent to Sell $4,575,000.00 South Bend <br />Redevelopment Authority Lease. Rental Revenue Bonds (Parking Facility <br />Project) was published on July 1 and July 8 in the South Bend Tribune <br />• and .the Tri-County News; and <br />WHEREAS, the Authority previously entered into a Lease between <br />the Authority and the South Bend Redevelopment Commission dated as of <br />June 1, 1988 (the "Lease"), pursuant to which the. Authority will <br />lease the Facility to the South Bend Redevelopment Commission (the <br />"Commission"); and <br />WHEREAS, bids were received on July 26, 1988, for the sale of the <br />Bonds for the construction of the Facility under the terms and condi- <br />tions provided in the Lease; and <br />WHEREAS, the lowest and best bid was received from Bank One, <br />Indianapolis, N.A. ("Bank One"), as the bidder offering the lowest <br />• -1- <br />