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. WHEREAS, there has been prepared and submitted to the <br />Authority a form of Trust Indenture to be dated as of June 1, 1994, <br />between the Authority and Norwest Bank Indiana, N.A., as trustee <br />(the "Trust Indenture"), which Trust Indenture 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 one (1) other underwriter <br />(collectively referred to herein as the "Underwriter"), which <br />Underwriter .has prepared and presented to the Authority a Purchase <br />Contract (the "Purchase Contract") relating to the sale and <br />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 se ., the Bonds in the aggregate principal <br />amount not to exceed Nineteen Million and 00/100 Dollars <br />($19,000,000.00). <br />L1 <br />