1994-05-17 Resolution 91 - Laserfiche WebLink

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I 0 �J Section 2 Said Bonds shall be issued in accordance with and shall be secured by a trust agreement substantially in the form of the Trust Agreement presented to the Authority, with such changes as the President and the Secretary of the Authority deem necessary or appropriate to effectuate this Resolution and to consummate the sale of the Bonds, said officers' execution and attestation thereof to be conclusive evidence of their approval of such changes. Section 3. Norwest Bank Indiana, N.A., South Bend, Indiana, is hereby appointed to serve as trustee (the "Trustee ") in connection with the issuance of the Bonds to finance the Project. The Trustee shall be charged with and shall by the Trust Agreement undertake the duties and responsibilities customarily associated with such position, as evidenced by the Trust Agreement. Section 4. The Bonds are hereby authorized to be issued under, pursuant to, and in accordance with the Trust Agreement with a final maturity date of not later than February 1, 2019, a maximum rate of interest for any maturity of seven and one -half percent (7.5 %) per annum, a maximum underwriter's discount not to exceed one percent (1.0 %) of such aggregate principal amount. Principal of the Bonds will be payable on February 1 and interest on the Bonds will be payable semiannually on February 1 and August 1. The proceeds of the Bonds shall be delivered to the Trustee and applied by the Trustee in accordance with the Trust Agreement. Section 5. The Bonds maturing on or after February 1, 2005, may be redeemed prior to maturity, at the option of the 3