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1992-04-30 Resolution 52
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1992-04-30 Resolution 52
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9/9/2008 2:30:34 PM
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7/18/2008 4:56:30 PM
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• or Bonds for a Bond or Bonds of equal aggregate principal amount <br />of the same maturity and interest rate of any authorized <br />denominations. For every exchange or transfer of Bonds, the <br />Trustee may make a charge sufficient to reimburse it for any tax, <br />fee or other governmental charge required to be paid with respect <br />to such exchange or transfer, which shall be paid by the person <br />requesting such exchange or transfer as a condition precedent to <br />the exercise of the privilege of making such exchange or transfer. <br />The cost of preparing each new Bond upon .each exchange or transfer, <br />and any other expenses of the Trustee incurred in connection <br />therewith (except any applicable tax, fee or other governmental <br />charge) shall be paid by the Authority. The Trustee shall not be <br />obliged to make any transfer or exchange of any Bond called for <br />redemption within thirty days of the redemption date. <br />Sec. 2.10. The accrued interest and premium, if any, received <br />from the sale of the Bonds shall be deposited by the Trustee in the <br />Sinking Fund established and created by Section 3.01 hereof. The <br />sum of <br />($ ) equalling the <br />($ ) received from the sale of such Bonds by the <br />Trustee plus the amount available totalling <br />($ ) from the funds <br />established by the Trust Agreement governing the outstanding bonds <br />issued in 1988 shall then be applied on behalf of the Authority to <br />the redemption of the outstanding bonds pursuant to an "Escrow <br />Agreement" entered into between the Authority and Norwest Bank <br />Indiana, N.A. dated as of 1, 1992. The balance of the <br />proceeds from the sale of the Bonds shall then be deposited to the <br />credit of the Expense Fund. <br />ARTICLE III. <br />Funds <br />.Sec. 3.01. There is hereby established and created a fund <br />designated as the "South Bend Redevelopment Authority Stadium <br />Parking Facility Sinking Fund." The Trustee shall deposit in such <br />Sinking Fund from each rental payment received by the Trustee <br />pursuant to the Lease, an amount equal to the following whichever <br />is less: <br />(a) All of such rental payment; or <br />(b) An amount which, when added to the amount in the <br />Sinking Fund on the deposit date equals the sum of the <br />following amounts: <br />(i) Unpaid interest on the Bonds due on, before or <br />within thirty (30) days after the date such rental <br />• -12- <br />
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