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"Lease"), pursuant to which the Authority is leasing the Taxable <br />• Project to the Commission; and <br />WHEREAS, the Authority desires to approve and execute an <br />addendum to the Lease (the "Addendum"), a copy of which is attached <br />hereto as "Exhibit A" and incorporated herein, reflecting lower <br />annual Lease rental payments; and <br />WHEREAS, the Authority authorized the President of the <br />Authority to execute and deliver a Bond Purchase Contract (the <br />"Contract") with City Securities Corporation (the "Underwriter"), <br />the terms and conditions of which will permit the reduction in the <br />annual Lease rental payments; and <br />WHEREAS, the Authority desires to publish notice of the <br />execution and delivery of the Contract for the sale of the Bonds; <br />. and <br />WHEREAS, the Authority intends to send written notice of <br />redemption (the "Notice of Redemption") to Society National Bank, <br />Indiana, as trustee (the "Trustee") of the Refunded Bonds as <br />required by Section 4.02 of that certain Trust Agreement between <br />the Authority and the Trustee, such Agreement dated as of December <br />1, 1990 (the "Trust Agreement"); <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />Redevelopment Authority as follows: <br />Section 1. The Authority hereby ratifies and approves <br />the Contract executed and delivered by the President of the <br />Authority to the Underwriter which provides for the sale of the <br />Bonds in the aggregate principal amount as set forth at Exhibit B <br />i• <br />-2- <br />