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Refundinc Issue Ra~g~
<br />Moody's Investors Service, Inc. "A"
<br />THIS FINAL OFFICIAL STATEMENT IS DATED NLY 9, 1993
<br />INTEREST ON THE TAXABLE LEASE RENTAL ACQUISITION AND REFUNDING REVENUE BONDS OF 1993 IS NOT
<br />EXCLUDABLE FROM GROSS INCOME OF THE OWNERS THEREOF FOR FEDERAL INCOME TAX PURPOSES UNDER SECTION
<br />103 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. In the opinion of Baker & Daniels, South Bend, Indiana, interest
<br />on the Taxable Lease Rental Acquisition and Refunding Revenue Bonds of 1993 is exempt from all present Indiana taxes, except the Indiana
<br />financial institutions tax and the Imiiana inheritance tax. See "TAX MATTERS" herein.
<br />$4,905,000
<br />SOUTH BEND REDEVELOPMENT AUTHORITY
<br />SOUTH BEND, INDIANA
<br />TAXABLE LEASE RENTAL ACQUISITION AND REFUNDING REVENUE BONDS OF 1993
<br />(Airport Economic Development Area Public Improvement Project)
<br />Original Date: July 1, 1993
<br />Due: August 1st and February 1st as shown below
<br />The South Bend Redevelopment Authority (the "Authority") is issuing $4,905,000 of Taxable Lease Rental Acquisition and Refunding Revenue
<br />Bonds of 1993 (Airport Economic Development Area Public Improvement Project) (the "Taxable 1993 Bonds") to provide for the refunding and
<br />legal defeasance of $4,200,000 of Taxable Lease Rental Revenue Bonds (of 1991) (Airport Economic Development Area Public Improvement
<br />Project) (the "Taxable 1991 Bonds"), to pay costs incurred in connection with the issuance of the Taxable 1993 Bonds, and to pay the costs of
<br />acquiring certain land and constructing certain public improvements in the Airport Economic Development Area (hereinafter defined).
<br />The Taxable 1993 Bonds will be issued under a Bond Resolution adopted by the Authority on June 29, 1993, and pursuant to IC 5-1-5 and IC
<br />36-7-14.5 and all the laws amendatory thereof and supplemental thereto. The Taxable 1993 Bonds are payable from semi-annual lease rental
<br />payments to be paid by the South Bend Redevelopment Commission (the "Commission") directly to Society National Bank, Indiana, located in
<br />South Bend, Indiana, as Trustee (ihe "Trustee"), under a Trust Agreement, dated as of July 1, 1993, between the Authority and the Trustee (the
<br />"Trust Agreement") and a Lease (as defined herein) between the Authority as Lessor and the Commission as Lessee. The lease rental payments
<br />will be paid from ad valorem property taxes levied on all taxable property in the South Bend Redevelopment District (an area with boundaries
<br />coterminous to the City of South Bend) in an amount which together with Taz Increment (as defined herein) will be equal to the lease payments
<br />due in the 12-month period beginning on July 1 of the following calendar year.
<br />The Taxable 1993 Bonds will be issued in fully registered form in the denomination of $5,000 or any integral multiple thereof. Interest payable
<br />February 1, 1994, and semi-annually thereafter on each August 1 and Febnrary 1, will be paid by check trailed by the Tnrstee to the registered
<br />owners at their addresses as shown on the registration books maintained by the Trustee. The Taxable 1993 Bonds are subject to optional
<br />redemption, prior to maturity, beginning August 1, 2003, as more fully described herein. The Term Bonds are subject to mandatory sinking
<br />fund redemption as described herein.
<br /> MATURITY SCHEDULE
<br /> Interest Interest
<br />Maturi PIlI1CIDal .Rate Price Maturi PtIIICIDaI Rate Price
<br />8/1/94 $ 20,000 4.20% 100% 2/1101 $105,000 6.30% 100%
<br />2/1/95 20,000 4.509'0 100% 8/1/01 110,000 6.40% 100%
<br />8!1/95 20,000 4.703'0 100% 2/1/02 115,000 6.50% 100%
<br />2/1/96 45,000 4.90% 100% 8/1/02 120,000 6.60% 100go
<br />8/1/96 45,000 5.10% 100% 2/1/03 125,000 6.70% 1003'0
<br />2/1/97 50,000 5.25% 100% 8/1/03 130,000 6.70% 100%
<br />8/1/97 50,000 5.40% 100% 2/1/04 135,000 6.85% 100%
<br />2/1/98 70,000 5.60% 100% 8/1/04 140,000 6.85% 100%
<br />8/1/98 70,000 5.75 go 100% 2/1/05 145,000 7.00% 100%
<br />2/1/99 85,000 5.903'0 100% 8/1/05 150,000 7.00% 1003'0
<br />8/1/99 90,000 6.00% 100% 2/1/06 155,000 7.10% 100g'o
<br />2/1/00 95,000 6.10% 100% 8/1/06 165,000 7.10% 100`90
<br />8/1/00 100,000 6.20`90 100%
<br /> $715,000 of Term Bonds 7.35% due August 1, 2008 Price 100%
<br /> $1,835,000 of Term Bonds 7.40% due August 1, 2012 Price 98.994 %
<br />CITY SECURITIES CORPORATION
<br />This cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must read the entire Official
<br />Statement to obtain information essential to the making of an informed investment decision.
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