1993-07-15 Resolution 79 - Laserfiche WebLink

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AUTHORITY FOR ISSUANCE The Taxable 1993 Bonds aze to be issued under the authority of Indiana law, including, without limitation, IC 5-1-5 and IC 36-7-14.5, and all the laws amendatory thereof and supplemental thereto (collectively "the Act") and pursuant to a Bond Resolution dated June 29, 1993, and pursuant to a Trust Agreement between the Authority and the Trustee dated as of July 1, 1993, and pursuant to a Lease dated as of August 1, 1990, as amended by an Addendum to Lease dated January 29, 1991, and as further amended by an Addendum to Lease following the bond sale (collectively referred to throughout this Official Statement as the "Lease") between the Authority and the Commission. (The Lease is provided in Appendix D.) OFFERING AND DELIVERY OF THE TAXABLE 1993 BONDS The Taxable 1993 Bonds aze being offered when, as and if issued, subject to approval as to their legality by Baker & Daniels and the satisfaction of certain other conditions. The Taxable 1993 Bonds are anticipated to be available for delivery in Indianapolis, Indiana on July 27, 1993. The refunding of the Taxable 1991 Bonds will be accomplished by creating an irrevocable escrow fund (the "Escrow Fund") and depositing therein certain cash and noncallable direct obligations of the Treasury of the United States of America, in an amount such that the principal and interest earned thereon, will be sufficient to redeem all the outstanding Taxable 1991 Bonds, with accrued interest and a redemption premium of 3% on or about September 1, 1993. MISCELLANEOUS The references, excerpts and summaries of all documents referred to herein do not purport to be complete statements of the provisions of such documents, and reference is directed to all such documents for full and complete statements of all matters of fact relating to the Taxable 1993 Bonds, the security for the payment of the Taxable 1993 Bonds and the rights and obligations of the owners thereof. The information contained in this Official Statement has been compiled from City officials and other sources deemed to be reliable, and while not guazanteed as to completeness or accuracy, it is believed to be correct as of this date. ' However, the Official Statement speaks only as of its date, and the information contained herein is subject to change. Any statements made in this Official Statement involving matters of opinion or of estimates, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that any of the estimates will be realized. Neither this Official Statement nor any statement which may have been made verbally or in writing is to be construed as a contract with the owners of the Taxable 1993 Bonds. ' SECURITIES BEING OFFERED AUTHORIZATION ' The Taxable 1993 Bonds aze being issued under the authority of Indiana law, including without limitation, the Act; and pursuant to Bond Resolution No.77 (the "Bond Resolution")(Appendix C) adopted by the Authority on June 29, 1993. The South Bend Redevelopment District, a special taxing district of the City, is administered by the South Bend Redevelopment Commission, which is composed of five members appointed by the Mayor and the Common ' Council. The Commission established the Airport Economic Development Area (the "EDA"} (with the approval of the South Bend Common Council) and is responsible for implementing the plan for economic development of the EDA. The South Bend Redevelopment Authority, which is composed of three members appointed by the Mayor, is authorized to issue obligations payable from a special benefits tax, from Tax Increment, from project revenues, from other available revenue sources, or a combination of these sources. ~ ,