1996-09-11 Resolution 110 - Laserfiche WebLink

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w WHEREAS, as part of the sale of the Bonds, the redemption terms provided in the • Bond Resolution have been modified and the Authority desires to amend Section 3 of the Bond Resolution to provide for the new redemption terms; and WHEREAS, the President of the Authority has executed a Bond Purchase Agreement providing for the refunding of those 1990 Bonds maturing on February 1 in the years 2004 to and including 2012 in an aggregate principal amount of $3,790,000 (the "Refunded Bonds"); and WHEREAS, the Authority previously entered into a lease between the Authority and the South Bend Redevelopment Commission (the "Commission") dated as of November 1, 1989, as amended by an Addendum to Lease entered into by the Authority and the Commission and dated as of April 6, 1990 (collectively, the "Lease"), pursuant to which the Authority is leasing the Project to the Commission; and • WHEREAS, the Authority desires to approve and execute an addendum to the Lease (the "Addendum"), a copy of which is attached hereto as "Exhibit A" and incorporated herein, reflecting lower annual lease rental amounts; and WHEREAS, the Authority intends to send written notice of redemption (the "Notice of Redemption") to Norwest Bank Indiana, N.A., trustee of the 1990 Bonds (the "Trustee") for the Refunded Bonds as required by Section 4.02 of the trust agreement entered into by the Authority and the Trustee and dated as of November 1, 1989; NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment Authority as follows: • -2-