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NOW THEREFORE, BE IT RESOLVED, by this South Bend <br />Redevelopment Authority as follows: <br />1. The Authority hereby awards the Bonds to Prudential <br />Securities, Inc.. <br />2. The Authority hereby approves the issuance of the <br />Bonds in an aggregate principal amount of Four Million Six Hundred <br />Sixty Thousand Dollars ($4,660,000) and maturing February 1 in the <br />years at the principal amounts and bearing interest at the rates <br />as follows: <br /> Interest Interest <br />Year Amount Rate Year Amount Rate <br />1993 $140,000 3.25% 2001 $275,000 5.80% <br />1994 195,000 4.25% 2002 290,000 6.00% <br />1995 205,000 4.60% 2003 305,000 6.00% <br />1996 210,000 4.90% 2004 325,000 6.10% <br />1997 220,000 5.10% 2005 340,000 6.20% <br />1998 235,000 5.30% 2006 365,000 6.25% <br />• 1999 250,000 5.50% 2007 390,000 6.30% <br />2000 255,000 5.70% 2008 410,000 6.30% <br /> 2009 250,000 6.30% <br />3. The Authority shall enter into the Escrow Agreement. <br />substantially in the form attached hereto as Exhibit A, in order <br />to effect the refunding of the Refunded Bonds in accordance with <br />their terms. The Authority hereby authorizes the President and the <br />Secretary to execute and attest, respectively, the Escrow Agreement <br />substantially in the form attached hereto as together with such <br />changes and modifications in form or substance as may be approved <br />by the President and the Secretary with any such approval to be <br />conclusively evidenced by such authorized execution and attestation <br />of the Escrow Agreement. <br />• <br />-3- <br />