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other things, the issuance of such Bonds to finance the <br />Project; and <br />WHEREAS, an Official Statement dated June 18, 1992, <br />relating to the issuance of the Bonds (the "Official Statement") <br />has been prepared by Evensen Dodge, Inc., as financial advisor to <br />the Authority, and presented to the Authority; <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />Redevelopment Authority as follows: <br />Section 1. In order to pay and finance the costs of <br />the Project and to pay costs of issuance, there is hereby <br />authorized and there shall be executed, issued, and delivered by <br />and on behalf of the Authority, pursuant to I.C. 36-7-14.5 et sea., <br />the Bonds in the aggregate principal sum of One Million Four <br />Hundred Ten Thousand Dollars ($1,410,000). <br />Section 2. The Bonds shall bear interest at a rate <br />or rates not exceeding ten percent (10%) per annum (or such lesser <br />per annum interest rate as the Authority may establish with the <br />advice of its financial advisor at the time of the publication of <br />the notice of intent to sell the Bonds) and shall mature serially <br />on February 1 in the years and in the amounts as follows: <br />Year Amount Year Amount <br />1993 $ 35,000 1999 $120,000 <br />1994 85,000 2000 130,000 <br />1995 90,000 2001 140,000 <br />1996 100,000 2002 150,000 <br />1997 105,000 2003 165,000 <br />1998 110,000 2004 180,000 <br />• <br />-2- <br />