1992-09-10 Resolution 64 - Laserfiche WebLink

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Bend, Indiana, as Trustee (the "Trust Agreement") which Trust Agreement provides for, among other things, the issuance of such Bonds to finance the Project; and WHEREAS, an Official Statement dated September 10, 1992, relating to the issuance of the Bonds (the "Official Statement") has been prepared by H. J. Umbaugh & Associates, as financial advisor to the Authority, and presented to the Authority; NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment Authority as follows: Section 1. In order to pay and finance the costs of the Project and to pay costs of issuance, there is hereby authorized and there shall be executed, issued, and delivered by and on behalf of the Authority, pursuant to I.C. 36-7-14.5 et sea., the Bonds in the aggregate principal sum of Five Million Six Hundred Eighty Thousand Dollars ($5,680,000). Section 2. The Bonds shall bear interest at a rate or rates not exceeding an average of seven percent (7%) per annum i with no individual rate or rates exceeding seven and one-half percent (7.5%) per annum (or such lesser per annum interest rate as the Authority may establish with the advice of its financial advisor at the time of the publication of the notice of intent to sell the Bonds) and shall mature serially on March 1 in the years and in the amounts as follows: i• -2-