Laserfiche WebLink
<br />19.91 <br />Merrjll Lynch & company <br />world financial Center <br />New York, New York 10.281-1309 <br />Re: South Berid Redevelopment Authority Lease Rental <br />Revenue Bonds (Airport Economic Development Area <br />ublic Im~*-OVement Projectl <br />Gentlemen: <br />We have acted as bond counsel in connection with the <br />issuance by the South Bcnd Redevelopment Authority {the "Sosuer"), <br />of_ Two Million Thzee Hundred. Fifty-Five Thousand Dollars <br />{S2,355,000) aggregate principal amount of Soutr.~Send Redevelopment <br />Authority Lease Rental Revenue Bonds {Aixport Economic Development <br />Area Public lmpravement Project) originally dated .March 1, <br />1991 (the "Bonds"), pursuant to a Trust Agreement jthe "Trust <br />Agreement") betw4en the Issuer and Society sank, Zndiana, as <br />TrusteQ jtha "Trustee"), dated ac of December 1, 199.0. We have <br />• examined a aertified tranccript of proceedings and such othex' <br />oextificates and documents. and w4 ha~~a reviewed auah athnr <br />proceedings and such questions cf law ac ~:e have dee:ngd neaQStary <br />as a bnsis for this opinion. <br />Zt is understood that the rights of the holdtrs of the <br />Bonds, the Issuer and the .Trustee and the tnforce~ability of the <br />Bonds, the Trust Agreement and the Lease {as defined belo~r}, inay <br />be subject to bankruptcy, insolvency, reorganization, moratorium <br />and .ether cimilar laws affecting creditors' rights heretofore ar <br />hereafter enacted to the extent constitutionally applicable, and <br />that their enfoxaemcnt may also be subject to the exercise of <br />judicial fliscretion in appropriate cases. <br />As to questions of fact material to our opinion, we have <br />relied, without undertaking tv verify the same by independent <br />invest~.gation, upon representations, covenants and certifications <br />of the Issuer and public officials contAined in the Trust Agreement <br />and in the certified transcript of proceedings and other <br />certificates furnished to us, including the YssueT's tax covena:,ts <br />and reprQSantations. we have nom been engaged er undertaken to <br />reV1QW the accuracy, camplQteness ar sufficient ai a-ty offering <br />• <br />