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<br /> <br />1tESOLIITION NO. 45 <br />• RESOLIITION OF THE SOIITH BEND REDEVELOPMENT AIITHORITY <br />APPROVING AN ESCROW AGREEMENT AND AIITHORIZING PIIBLICATION <br />OF NOTICE OF EgECIITION AND DELIVERY OF A CONTRACT FOR T88 <br />PIIRCHASE OF THE SOIITH BEND REDEVELOPMENT AIITHORITY TABABLE <br />LEASE RENTAL REVENIIE BONDS (COVELESRI STADIIIM REFIINDING <br />WHEREAS, the South Bend Redevelopment Authority (the <br />"Authority") at a meeting on November 1, 1991 adopted Resolution <br />No. 44 (the "Taxable Bond Resolution") authorizing the issuance <br />and sale of bonds to be known as the "South Bend Redevelopment <br />Authority Taxable Lease Rental Revenue Bonds (Coveleski Stadium <br />Refunding)" (the "Taxable Bonds") pursuant to IC 36-7-14.5 et <br />secy., in the aggregate principal amount not to exceed Four <br />Million Three Hundred Fifty Thousand Dollars ($4,350,000), the <br />proceeds of which are to be used to refund the South Bend <br />Redevelopment Authority Taxable Lease Rental Revenue Bonds <br />(Coveleski Stadium Project) (the "Refunded Bonds") issued in 1988 <br />to refinance the stadium facility known as the "Stanley Coveleski <br />Regional Stadium" (the "Facility") and to pay the costs of <br />issuance of the Bonds; and <br />WHEREAS, there has been prepared and submitted to the <br />Authority a form of Irrevocable Escrow Deposit Agreement to be <br />dated as of December 1, 1991, between the Authority and Norwest <br />Bank Indiana, N.A., as Escrow Trustee (the "Escrow Agreement"), a <br />copy of which is hereby attached as "Exhibit A" hereto and <br />incorporated herein, which Escrow Agreement provides for, among <br />other things, the deposit of Bond proceeds with the Escrow <br />