1991-03-08 Resolution 37 - Laserfiche WebLink

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RESOLUTION NO 37 • RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY APPROVING AN ADDENDUM TO THE OFFICIAL STATEMENT RELATING TO THE ISSUANCE OF THE SOUTH BEND REDEVELOPMENT AUTHORITY LEA88 RENTAL REVENUE BONDS (AIRPORT ECONOMIC DEVELOPMENT AREA PUBLIC IMPROVEMENT PROJECT) AND AIITHORIZING DISTRIBUTION OF INFORMATION WHEREAS, the South Bend Redevelopment Authority (the "Authority") at a meeting on December 17, 1990 adopted Resolution No. 27 authorizing the issuance and sale of bonds to be known as the "South Bend Redevelopment Authority Lease Rental Revenue Bonds (Airport Economic Development Area Public Improvement Project)" (the "Bonds") pursuant to IC 36-7-14.5 et sea•, in the aggregate principal sum of Two Million Three Hundred Fifty-Five Thousand Dollars ($2,355,000), the proceeds of which are to be used to finance certain land and public improvements and to pay the costs of issuance of the Bonds.; and WHEREAS , the Authority at a meeting on December 21, 19 9 0 , adopted Resolution No. 30 approving an Official Statement dated as • of December 21, 1990 (the "Official Statement"), subsequently printed and dated January 25, 1991, relating to the issuance of the Bonds, which Official Statement was prepared by H.J. Umbaugh & Associates, as financial advisors to the Authority; and WHEREAS, Merrill Lynch & Company, as purchaser of the Bonds (the "Purchaser"), reoffered certain of the Bonds to the public at less than their par value, creating "original issue discount"; and WHEREAS, the Purchaser desires to amend the Official Statement to provide disclosure language regarding the "original issue discount." NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT AUTHORITY AS FOLLOWS: 1. The addendum to the Official Statement (the "Addendum") is hereby approved in substantially the form presented at this meeting (as attached hereto as Exhibit A) and H.J. Umbaugh & Associates is hereby authorized and directed to cause to be distributed such Addendum, with such changes as may be required which are approved by the Authority' s legal counsel as H . J . Umbaugh & Associates might recommend to describe adequately the Bonds and information relating thereto. The Authority shall place a copy of • such Addendum as presented to this meeting with the minutes of this meeting.