My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1992-04-30 Resolution 52
sbend
>
Public
>
Redevelopment Authority
>
Resolutions
>
1990-1999
>
1992
>
1992-04-30 Resolution 52
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/9/2008 2:30:34 PM
Creation date
7/18/2008 4:56:30 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
50
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
• payment becomes due; and <br />(ii) Unpaid principal on the Bonds due on, before <br />or within seven (7) months from the date such rental <br />payment becomes due. <br />Any portion of a rental payment remaining after such deposit shall <br />be deposited by the Trustee in the Operation. and Reserve Fund <br />provided for in Sec. 3.06. The Trustee shall from time to time <br />withdraw from such Sinking Fund, or if the Sinking Fund is not <br />sufficient, then from the Operation and Reserve Fund created below, <br />and shall deposit in a special trust fund and make available to <br />itself, sufficient moneys for paying the principal of the Bonds at <br />maturity and to pay the interest on the Bonds as the same falls <br />due. <br />Sec. 3.02. There is hereby established and created a fund <br />designated as the "South Bend Redevelopment Authority Stadium <br />Parking Facility Operation and Reserve Fund." The Operation and <br />Reserve Fund shall be used only to pay necessary incidental <br />expenses of the Authority (e.g. required audits, appraisals, <br />meetings and reports), the payment of principal, interest and <br />redemption. premiums of the Bonds herein described upon redemption <br />as authorized by Article IV hereof or the purchase price of Bonds <br />purchased as authorized by Sec. 3.06, and if the amount in the <br />Sinking Fund at any time is less than the required amount, the <br />Trustee shall, without any further authorization, transfer funds <br />from the Operation and Reserve Fund to the. Sinking Fund in an <br />amount sufficient to raise the amount in the Sinking Fund to the <br />required amount. Such action by the Trustee shall not constitute <br />a waiver of any other right or remedy the Trustee may have under <br />this Agreement. Incidental expenses shall be paid by the Trustee <br />upon the presentation of an affidavit executed by any two (2) <br />officers of the Authority, stating the character of the <br />expenditure, the amount thereof, and to whom due, together with the <br />statement of the creditor as to the amount owing. <br />Sec. 3.03. There is hereby established and created a fund <br />designated as the "South Bend Redevelopment Authority Stadium <br />Parking Facility Expense Fund." Moneys are being deposited to the <br />credit of the Expense Fund to finance the Cost of Issuance for the <br />Bonds pursuant to Section 2.10 hereof. Moneys on deposit in the <br />Expense Fund shall be paid out from time to time by the Trustee in <br />order to pay or as reimbursement to the Authority for payment made <br />for the Cost of Issuance. After November 1, 1992 the Trustee may <br />transfer any moneys on deposit in the Expense Fund to the Sinking <br />Fund. <br />• -13- <br />
The URL can be used to link to this page
Your browser does not support the video tag.