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• <br />• <br />• <br />WHEREAS, there has been prepared and submitted to the <br />Authority a form of Trust Agreement to be dated as of May 15, 1994, <br />between the Authority and Norwest Bank Indiana, N.A., as trustee <br />(the "Trust Agreement ") , which Trust Agreement provides for, among <br />other things, the issuance of such Bonds to finance the costs of <br />the Project; and <br />WHEREAS, the Authority desires to sell the Bonds by <br />private, negotiated sale to'First Chicago Capital Markets, Inc., <br />acting on its own behalf and on behalf of certain other <br />underwriters (collectively referred to herein as the <br />"Underwriter ") , which Underwriter has prepared and presented to the <br />Authority a Purchase Contract (the "Purchase Contract ") relating <br />to the sale and purchase of the Bonds; and <br />WHEREAS, a Preliminary Official Statement of the <br />Authority relating to the issuance of the Bonds (the "Preliminary <br />Official Statement ") has been prepared and presented to the <br />Authority; <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />Redevelopment Authority as follows: <br />Section 1. In order to pay and finance the costs of the <br />purposes described herein, and to pay the costs of issuance of the <br />Bonds, there is hereby authorized and there shall be executed, <br />issued, and delivered by and on behalf of the Authority, pursuant <br />to I.C. 36 -7- 14.5 -1 et sea., the Bonds in the aggregate principal <br />amount not to exceed Seven Million Five Hundred Thousand and 00/100 <br />Dollars ($7,500,000.00). <br />2 <br />