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1994-05-17 Resolution 91
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1994-05-17 Resolution 91
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• RATINGS <br />Moody's Investors Service ( "Moody's ") and Standard & Poor's Corporation ( "S &P ") have given the Bonds <br />the ratings of "Aaa" and " AAA," respectively, with the understanding that, upon delivery of the Bonds, a policy <br />insuring the payment when due of the principal of and interest on the Bonds will be issued by <br />. An explanation of the rating by Moody's may be obtained from such agency at <br />99 Church Street, New York, New York 10007, and an explanation of the rating by S&P may be obtained from <br />such agency at 25 Broadway, New .York, New York 10004. Any such rating reflects only the view of the <br />respective rating agency and is not a recommendation to buy, sell or hold any of the Bonds. There is no assurance <br />that any rating will continue for any given period of time or that any rating will not be revised downward or <br />withdrawn entirely if, in the judgment of the appropriate rating agency, circumstances so warrant. Any such <br />downward revision or withdrawal of any rating may have an adverse effect on the market price or marketability of <br />the Bonds. <br />UNDERWRITING <br />Under a bond purchase agreement with the Authority, the Underwriters listed on the cover page of this <br />Official Statement have agreed to purchase the Bonds subject to conditions at an aggregate purchase price of <br />$ which represents an underwriters' discount of $ and an original issue discount of <br />$ from the par amounts set forth on the inside front cover of this Official Statement, plus accrued <br />interest on the Bonds to the date of delivery. <br />The Underwriters have agreed to make a bona fide public offering of all of the Bonds. The price and other <br />terms respecting the offering and sale of the Bonds may be changed from time to time by the Underwriters after <br />such Bonds are released for sale, and the Bonds may be offered and sold at prices lower than such initial offering <br />• prices, including sales to dealers who may sell the Bonds into investment accounts. <br />• <br />MISCELLANEOUS <br />This Official Statement speaks only as of its date, and the information contained herein is subject to change. <br />The references, excerpts and summaries of all documents referred to herein do not purport to be complete <br />statements of the provisions of such documents, and reference is made to all such documents for full and complete <br />statements of all matters relating to the Bonds, the security for the payment of the Bonds and the rights of the <br />owners thereof. During the initial offering period for the Bonds, copies of the Trust Agreement, the Lease and the <br />Escrow Agreement will be available for inspection during regular business hours at the office of the Authority, 1200 <br />County -City Building, South Bend, Indiana 46601; (219) 235 -9371. <br />The Authority is obligated under the Trust Agreement to furnish copies of its annual reports to registered <br />owners of Bonds who so request and to the Insurer. The Authority has not, however, entered into any other <br />contractual commitment to provide investors with any other information on a continuing basis. <br />-14- <br />
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