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<br />DEC
<br />Moody's
<br />o
<br />~ ° PRELIMINARY OFFICIAL STATEMENT DATED DECEMBER 21,.1990
<br />r~~
<br />~;~ ~ Indianapolis, Indiana, under existing laws,
<br />E In the opinion of Baker & Daniels,
<br />g ° ~ regulations, judicial decisions and rulings, interest on the .Lease Rental Bonds is
<br />o a excludable from gross income under Section 103 of the Internal Revenue Code of
<br />d ~ 0 1986, as amended, for federal income tax purposes. Such. exclusion is conditioned
<br />g o A on continuing compliance with the .Tax Covenants (hereinafter defined). In he
<br />R•r d opinion of Baker & Daniels, Indianapolis, Indiana, under existing laws,
<br />e `-'' udicial .decisions and rulin s, interest on the Lease Rental Bonds is
<br />='s s regulations, j g
<br />r t ~ exempt from income taxation in the State of Indiana, except with respect to the
<br />d s ~ Indiana Franchise Tax. imposed on financial institutions as more fully described
<br />~_
<br />"~ ~'a herein. See "TAX MATTERS" herein.
<br />m O .°o
<br />N d =
<br />a ~---- $2,355,000
<br />f :_o~
<br />A ~ SOUTH BEND REDEVELOPMENT AUTHORITY
<br />N -d.. ~
<br />SOUTH BEND, INDIANA
<br />.y r
<br />LEASE RENTAL REVENUE BONDS
<br />- ~ R
<br />ai O ~?
<br />(Airport Economic Development Area
<br />.~
<br />},~ ~ Public Improvement Project)
<br />.~
<br />~ ~n o
<br />R Original Date: March 1, x,991 Due: August 1st as shown below
<br />_;
<br />d o '~
<br />R o The South Bend Redevelopment Authority (the "Redevelopment Authority") is issuing
<br />o $2,355,000 of Lease Rental Revenue Bonds (Airport Economic Development area Public
<br />d-
<br />o a ~ Improvement Project) (the "Lease Rental Bonds") for'the purpose of widening and
<br />o ~ ~ extending roads and utilities and land acquisition. In addition, bond proceeds
<br />.will .provide for issuance expenses :and capitalized interest. The Lease Rental
<br />~~ y~ Bonds 'are payable from semi-annual lease rental payments to be paid by the' South
<br />A o Bend Redevelopment Commission (the "Commission") directly to Society Bank located
<br />o E d in South Bend, Indiana, as Trustee (the "Trustee"), under a Trust Agreement, dated
<br />o 0 o as of December 1, 1990, between the Redevelopment Authority and the .Trustee (the
<br />o "Trust Indenture") and a lease dated as of August 1, 1990 and restated and amended
<br />° ~'~_ as of December 21, 1990 (the "Lease") between the Redevelopment Authority as Lessor
<br />d~._
<br />" ~•" and the Redevelopment Commission as Lessee.
<br />3 E H
<br />d .° y
<br />R o The Lease Rental Bonds are being issued pursuant to ZC 36-7-14.5. The Lease Rental
<br />._
<br />•~ _ ~ Bonds will be issued in fully registered form in the denomination of $5,000 or any
<br />d •-
<br />integral multiple thereof. Interest payable August 1, 1991, and semi-annually
<br />d d U
<br />3 .thereafter, will be-paid by check .mailed by the Trustee to the registered owners at
<br />o ~ ~ their addresses as shown on the registration .books maintained by the Trustee. The
<br />v ._ C
<br />o d ° Lease Rental Bonds are'subject to optional-redemption, prior to maturity., beginning
<br />~~ ~ ~ August 1, 2000 as more fully described herein.
<br />oN
<br />L ~ ~ LEASE RENTAL REVENUE BONDS
<br />~o
<br />" = "' Interest Interest
<br />e E d Maturity Principal Rate Price Maturity Princital Rate Price
<br />d -- h
<br />:~ L d
<br />~, _.. N
<br />~°` ~ 8/1/97 $ 50,000 ~ ~ 8/1/05 $150,000 $ ~
<br />.`-'co
<br />8/1/98 70,000 ~ $ 8/1/06 160,000 $ ~
<br />z d y 8/1/99 90,000 $ ~ .8/1/07 170,000 ~ ~
<br />~~~
<br />E ~ ~ 8/1/00 100,000 ~ ~ 8/1/08 185,000 $ $
<br />•a ~ d 8/1/01 110,.000 $ ~ 8/1/09 200,000 ~ $
<br />" ''~ 8/1/02 120,000 $ ~ 8/1/10 210,000 $ ~
<br />~~~
<br />8/1/03 130,000 $ ~ 8/1/11- 230,000 ~ ~
<br />8/1/04 135,000 ~ ~ 8/1/12 245,000 ~ ~
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