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FUTURE FINANCLtiG
<br />With the College Football Hall of Fame relocating to South Bend, the City is planning to construct a $14 million
<br />facility which will be financed in eazly 1994 with a bond issue to be repaid from private donations. Within the next
<br />six months, the Authority may issue approximately $6 million in bonds to finance public improvements and a
<br />pazking garage in the downtown in conjunction with new private investment involving renovation and new
<br />construction.
<br />LITIGATION
<br />To the knowledge of the Authority, the Commission, officials of the City of South Bend and the City Attorney,
<br />there is no litigation pending, or threatened, against the Authority, the Commission, or the City which in any way
<br />questions or affects the validity of the Taxable 1993 Bonds, or any proceedings or transactions relating to the
<br />issuance, sale or delivery thereof. The Authority will certify at the time of delivery of the Taxable 1993 Bonds that
<br />there is no litigation pending or in any way threatened questioning the validity of the Taxable 1993 Bonds, or any
<br />of the proceedings held relating to the authorization, issuance and sale of the Taxable 1993 Bonds or the Bond
<br />Resolution.
<br />UNDERWRITIIHG
<br />The Taxable 1993 Bonds aze being purchased for reoffering by the Underwriter, City Securities Corporation (the
<br />"Underwriter") at a purchase price of $4,837,507, which is shown net of $49,033 of Underwriter's discount and
<br />$18,460 of original issue discount plus accrued interest. The Purchase Agreement provides that all of the Taxable
<br />1993 Bonds will be purchased by the Underwriter if any of such Taxable 1993 Bonds aze purchased.
<br />' The Underwriter intends to offer the Taxable 1993 Bonds to the public at the offering prices set forth on the inside
<br />cover page of this Official Statement. The Underwriter may allow concessions to certain dealers (including dealers
<br />in a selling group of the Underwriter and other dealers depositing the Taxable 1993 Bonds into investment trusts),
<br />who may reallow concessions to other dealers. After the initial public offering, the public offering price tray be
<br />varied from time to time by the Underwriter.
<br />' CPA VERIFICATION
<br />The accuracy of the mathematical computations of the adequacy of the principal amount of the Government
<br />Obligations, as defined in the Escrow Agreement, to be held in the Escrow Fund, together with certain other
<br />available amounts and uninvested cash, and interest income earned on such Government Obligations, to pay the
<br />principal of, interest, and redemption premium on the Taxable 1991 Bonds to and including September 1, 1993,
<br />and to redeem on that date all then outstanding Taxable 1991 Bonds will be verified by H.J. Umbaugh & Associates,
<br />Certified Public Accountants. Such computations will be based upon information, assumptions and calculations
<br />supplied by the Underwriter.
<br />CERTIFICATE
<br />' At the time of payment for and delivery of the Taxable 1993 Bonds, upon request, the Underwriter will be furnished
<br />a certificate, .executed by proper officers, acting in their official capacity, to the effect that to the best of their
<br />' knowledge and belief,
<br />(a) the description and statements of, or pertaining to, the issuer contained in this Official Statement
<br />and any addendum, supplement or amendment thereof, for the Taxable 1993 Bonds on the date
<br />' of sale of said Bonds and on the date of the delivery were and aze true and correct in all material
<br />respects;
<br />(b) insofaz as the Authority and its affairs, including its financial affairs, aze concerned, such Official
<br />' Statement did not and does not contain any untrue statement of a material fact or omit to state a
<br />material fact required to be stated therein or necessary to make the statements therein, in light of
<br />the circumstances under which they were made, not misleading;
<br />(c) insofaz as the description and statements, including financial data, of or pertaining to entities,
<br />other than the Authority, and their activities contained in such Official Statement are concerned,
<br />such statements and~data have been obtained from sources which the issuer believes to be reliable
<br />and that the issuer has no reason to believe that they aze untrue in any material respect.
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