1988-07-29 Resolution 12 - Laserfiche WebLink

Home Browse Search

'. Resolution No. 12 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY RATIFYING THE SELECTION OF A SUCCESSFUL BIDDER • FOR THE COVELESKI STADIUM PROJECT BONDS. AND RATIFYING THE TERMS OF THE BONDS WHEREAS, .the South Bend Redevelopment Authority (the "Authority") at a meeting on June 17, 1988, adopted Resolution No. 8, authorizing the issuance of the "South Bend Redevelopment Authority .Lease Rental Revenue Bonds (Coveleski Stadium Project)" (the "Bonds"), in an aggre- gate amount of $5,685,000.00 pursuant to IC 36-7-14.5-19 to finance the acquisition of a stadium facility known as the "Stanley Coveleski Regional Stadium" (the "Stadium"), including the site therefor, and to pay the costs of issuance of the Bonds; and WHEREAS, a Notice of Intent to Sell $5,685,000.00 South Bend Redevelopment Authority Lease Rental Revenue Bonds (Coveleski Stadium Project) was published on July 1 and July 8 in the South Bend Tribune • and the Tri-County News; and WHEREAS, the Authority previously entered into a Lease between the Authority and South Bend Redevelopment Commission dated as of June 1, 1988 (the "Lease"), pursuant to which the Authority will base the Stadium to the South Bend Redevelopment. Commission (the "Commission"); and WHEREAS, bids-were received on July 26, 1988, for the sale of the Bonds for the purchase. of the Stadium; and WHEREAS, the lowest and best bid was received from Bank One, Indianapolis, N.A. ("Bank One"), as the. bidder offering the lowest net interest cost to the Authority, determined by computing the total interest on all of the Bonds from the .date thereof to their maturi- _-