1997-02-05 Resolution 111 - Laserfiche WebLink

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C`. RESOLUTION NO. ~ RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY APPROVING THE EXECUTION OF AN ADDENDUM TO THE LEASE BETWEEN THE AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Authority (the "Authority") has been created pursuant to IC 36-7-14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South Bend to finance local public improvements for lease to the South Bend Redevelopment Commission (the "Commission"); and WHEREAS, the Authority intends to issue bonds in an aggregate principal amount not to exceed of Two Million Five Hundred Forty Thousand and 00/100 Dollars ($2,540,000.00) • pursuant to IC 36-7-14.5-19 to be known as the "South Bend Redevelopment Authority Lease Rental Revenue Refunding Bonds of 1997 (Airport Economic Development Area Public Improvement Project)" (the "Bonds"), the proceeds of which are to be used to refund the South Bend Redevelopment Authority Lease Rental Revenue Bonds (Airport Economic Development Area Public Improvement Project) issued by the Authority in 1991 (the "Prior Bonds"), and to pay the costs of issuance of the Bonds; and WHEREAS, the Authority previously entered into a lease between the Authority and the Commission dated as of August 1, 1990, which Lease was amended by the Addendum to Lease entered into between the Authority and the Commission and dated as of January 29, 1991 (collectively, the "Lease"), which Lease was heretofore approved by this Authority, and pursuant to which the Authority leases to the Commission certain land and the public improvements located thereon (the "Project"); and