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• WHEREAS, following the award of the Bonds, it has become <br />apparent that additional funds are available under the trust <br />agreement entered into by the Authority and Norwest Bank Indiana, <br />N.A. , and dated as of June 1, 1988, for the Refunded Bonds (the <br />"Refunded Bonds Trust Agreement"); and <br />WHEREAS, to account for the use of such additional funds <br />in the refunding of the Refunded Bonds to maximize savings to the <br />Authority, it has become necessary to negotiate with the <br />Underwriter to reduce the aggregate principal amount of the Bonds <br />awarded to an amount equal to Four Million Ninety-Five Thousand <br />Dollars ($4,095,000.); and <br />WHEREAS, Evensen Dodge, Inc., financial advisor to the <br />Authority, has determined the individual principal amounts of the <br />• Bonds necessary to adequately fund the escrow fund and Coopers & <br />Lybrand has verified that the individual principal amounts of the <br />Bonds as determined by the Financial Advisor will provide <br />sufficient funding of the escrow fund to refund the Refunded Bonds; <br />and <br />WHEREAS, the Underwriter has agreed to the award of the <br />reduced aggregate principal amount of the Bonds and the Authority <br />desires to approve the award of the Bonds in such reduced aggregate <br />amount to the Underwriter; and <br />WHEREAS, the Authority previously entered into a lease <br />between the Authority and the South Bend Redevelopment Commission <br />(the "Commission") dated as of June 1, 1988, as amended by an <br />Addendum to Lease entered into by the Authority and the Commission <br />-2- <br />