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WHEREAS, the Commission has given consideration to undertaking local public <br />improvement projects in the River East Area including all or any portion of the following: (i) <br />LaSalle Streetscape which consists of a road diet with a focus on bike and pedestrian improvements <br />from Martin Luther King Boulevard to Eddy Street and any related improvements; (ii) Hill Street <br />Trail (South Bend Avenue to LaSalle Street) which consists of Phase 2 of the Trail Project to <br />construct a shared use path and any related improvements to improve bicycle and pedestrian <br />facilities between the University of Notre Dame campus and the City’s downtown; (iii) South Bend <br />Avenue (Hill Street to Notre Dame Avenue) and Hill Street Intersection which consists of Phase <br />1 of the Trail Project to construct a shared use path and any related improvements to improve <br />bicycle and pedestrian facilities between the University of Notre Dame campus and the City’s <br />downtown; (iv) Mishawaka Avenue Streetscape Improvements which consist of a road diet and <br />improved parking from Longfellow Street to Emerson Street, storm sewer separation, and any <br />related improvements; (v) Coquillard Splashpad which consists of upgrading the splashpad at <br />Coquillard Park to modern health, safety, and experiential standards, and any related <br />improvements; and (vi) all projects related to any of the projects described in clauses (i) through <br />and including (v) (clauses (i) through and including (vi), collectively (collectively, the “River East <br />Projects” and collectively with the River West Projects and the Beacon District Improvements, the <br />“Projects”); and <br />WHEREAS, the Authority desires to express its intent to issue its taxable or tax-exempt <br />lease rental revenue bonds in one (1) or more series in an estimated aggregate principal amount of <br />Sixty-four Million Dollars ($64,000,000) (the “Bonds”) for the purpose of (i) financing the cost of <br />funding all or any portion of the Projects and related expenses; (ii) funding a debt service reserve <br />fund, if necessary in connection with the issuance of the Bonds to finance the costs of the Projects <br />or purchasing a surety bond to satisfy a reserve requirement; and (iii) pay costs incurred in <br />connection with the issuance of the Bonds; and <br />WHEREAS, the Authority seeks to enter into and adopt a proposed Lease Agreement with <br />the Commission in the form presented at this public meeting (the “Lease”) for the purpose of <br />paying the principal and interest on the Bonds issued pursuant to I.C. 36-7-14.5 to finance all or <br />any portion of the Projects, and the other costs set forth above; and <br />WHEREAS, the Authority or the Commission may pay for certain costs of the Projects <br />(collectively, the “Expenditures”) prior to the issuance of the Bonds, and the Authority desires to <br />reimburse the Expenditures with proceeds received by the Authority upon the issuance of the <br />Bonds; and <br />WHEREAS, the Authority now seeks to declare its intent to reimburse the Expenditures <br />pursuant to Treas. Reg. §1.150-2 and Indiana Code 5-1-14-6(c); <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY, AS FOLLOWS: <br />SECTION 1. The Authority hereby declares its intent to issue the Bonds pursuant to <br />Indiana Code 36-7-14.5 for the purpose of financing all or any portion of the costs of the Projects <br />and related expenses and to reimburse the Expenditures, if any, from proceeds of the sale of such <br />Bonds. <br />SECTION 2. The Authority hereby approves the proposed Lease between the Authority <br />and the Commission in the form presented at this public meeting. The President and Secretary of <br />the Authority are hereby authorized to execute the Lease on behalf of the Authority following