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<br />RESOLUTION NO. ~~~ <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY <br />AUTHORIZING THE ISSUANCE OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE <br />REFUNDING BONDS, SERIES 1996 A (CENTRAL DEVELOPMENT AREA <br />PUBLIC IMPROVEMENT PROJECT) AND SERIES 1996 B (AIRPORT <br />ECONOMIC DEVELOPMENT AREA PUBLIC IMPROVEMENT PROJECT) <br />AND OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority") has <br />C7 <br />been created pursuant to I.C. 36-7-14.5 as a separate body, corporate and politic, and as an <br />instrumentality of the City of South Bend to finance local public improvements for lease to <br />the South Bend Redevelopment Commission (the "Commission"); and <br />WHEREAS, the Authority intends to issue bonds in the aggregate principal <br />amount not to exceed Six Million and 00/100 Dollars ($6,000,000.00) pursuant to LC. 36-7- <br />14.5-19 and I.C. 5-1-5 to be known as the "South Bend Redevelopment Authority Lease <br />Rental Revenue Refunding Bonds, Series 1996 A (South Bend Central Development Area <br />Public Improvement Project)" (the "Series 1996 A Bonds"), the proceeds of which are to be <br />used to: (i) refund the South Bend Redevelopment Authority Lease Rental Revenue Bonds <br />(South Bend Central Economic Development Area Public Improvement Project) (the "1990 <br />Bonds") issued in 1990 to pay the costs of acquiring certain land and constructing certain <br />public improvements located in the South Bend Central Economic Development Area (the <br />"Central Project") and (ii) pay the costs of issuance of the Series 1996 A Bonds; and <br />WHEREAS, the Authority intends to amend the currently existing lease of the <br />Central Project with the Commission dated as of November 1, 1989, which was subsequently <br />