My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1992-06-18 Resolution 56
sbend
>
Public
>
Redevelopment Authority
>
Resolutions
>
1990-1999
>
1992
>
1992-06-18 Resolution 56
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/18/2008 5:17:12 PM
Creation date
7/18/2008 5:17:09 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
128
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
t- . <br />any offering materials relating to the Bonds, and we express no <br />opinion relating thereto. <br />Based upon the foregoing, we are of the opinion, under <br />existing law, as follows: <br />1. The Issuer is duly created and validly existing as <br />a separate body corporate and politic and as an instrumentality of <br />the City of South Bend, Indiana, with the power to enter into the <br />Trust Agreement and the Lease described below, perform the <br />agreements on its part contained therein and issue the Bonds. <br />2. The lease between the Issuer, as lessor, and the <br />South Bend Redevelopment Commission (the "Commission"), as lessee, <br />dated as of March 1, 1992, and as amended by the Addendum to Lease <br />between the Issuer and the. Commission dated as of 1992 <br />(the lease as so amended shall be referred to herein as the <br />"Lease"), has been duly entered into in accordance with the <br />provisions of Indiana Code 36-7-14 (the "Act") and is a valid and <br />binding Lease. All taxable property in the City of South Bend <br />Redevelopment District is subject to ad valorem taxation without <br />limitation as to rate or amount to pay the Lease rental. The <br />Commission is required by the Act and the Lease annually to levy <br />and appropriate an amount sufficient to pay the Lease rentals <br />during the term of the Lease. <br />• 3. The Issuer has duly authorized, sold, executed and <br />.delivered the Bonds and has duly authorized and executed the Trust <br />Agreement. The Bonds are the valid and binding obligations of the <br />Issuer secured by the-Trust Agreement. <br />4. The interest on the Bonds is exempt from taxation <br />in the State of Indiana for all purposes except the Indiana <br />financial institutions tax and the Indiana inheritance tax. <br />Very truly yours, <br />~:~ _ <br />• <br />
The URL can be used to link to this page
Your browser does not support the video tag.