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<br />RESOLUTION NO. 26 <br />RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY AUTHORIZING <br />THE ISSUANCE OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY TAXABLE LEASE <br />• RENTAL REVENUE BONDS <br />(AIRPORT ECONOMIC DEVELOPMENT <br />AREA PUBLIC IMPROVEMENT PROJECT) <br />AND REGARDING 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 of <br />the City of South Bend to finance local public improvements for <br />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 Four Million Two Hundred Thousand Dollars <br />($4,200,000) pursuant to I.C. 36-7-14.5-19 to be known as the <br />"South Bend Redevelopment Authority Taxable Lease Rental Revenue <br />Bonds (Airport Economic Development Area Public Improvement <br />Project)" (the "Bonds"), the proceeds of which are to be used to <br />finance certain land and public improvements (the "Project") and <br />to pay the costs of issuance of the Bonds; and <br />WHEREAS, the Authority intends to lease the Project to <br />the Commission pursuant to a lease dated as of August 1, 1990 (the <br />"Lease"), which Lease was heretofore approved and executed by this <br />Authority; and <br />WHEREAS, there has been prepared and submitted to the <br />Authority a form of Trust Agreement to be dated as of December 1, <br />1990 between the Authority and Society Bank, Indiana, as Trustee <br />