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• <br />RESOLUTION NO .; 56 <br />RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY AUTHORIZING <br />THE ISSUANCE OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY TAXABLE LEASE <br />RENTAL REVENUE BONDS <br />(PALAIS ROYALE PROJECT) <br />AND REGARDING OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the <br />"Authority") has been created pursuant to I.C. 36-7-14.5 as a <br />separate body, corporate and politic, and as an instrumentality of <br />the City of South Bend to finance local public improvements for <br />lease to the South Bend Redevelopment Commission (the <br />"Commission"); and <br />WHEREAS, the Authority intends to issue bonds in the <br />aggregate amount of One Million Four Hundred Ten Thousand Dollars <br />($1,410,000) pursuant to I.C. 36-7-14.5-19 to be known as the <br />"South Bend Redevelopment Authority Taxable Lease Rental Revenue <br />Bonds (Palais Royale Project)" (the "Bonds"), the proceeds of which <br />are to be used to finance certain land and public improvements (the <br />"Project") and to pay the costs of ,issuance of the Bonds; and <br />WHEREAS, the Authority intends to lease the Project to <br />the Commission pursuant to a lease dated as of March 1, 1992 (the <br />"Lease"), which Lease was heretofore approved and executed by this <br />Authority; <br />WHEREAS, there has been prepared and submitted to the <br />Authority a form of Trust Agreement to be dated as of June 1, 1992, <br />between the Authority and Norwest Bank Indiana, N.A., as Trustee <br />(the "Trust Agreement") which Trust Agreement provides for, among <br /> <br />