Laserfiche WebLink
n <br />U <br />WHEREAS, the Authority desires to approve and execute an addendum to the <br />Lease (the "Addendum"), a copy of which has been presented to this meeting, reflecting lower <br />annual lease rental amounts; and <br />WHEREAS, the Authority intends to send written notice of redemption (the <br />"Notice of Redemption") to Mellon Bank, N.A., trustee of the Prior Bonds (the "Trustee") for the <br />Refunded Bonds as required by Section 4.02 of the trust agreement entered into by the Authority <br />and the Trustee and dated as of , 19 ; <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment <br />Authority as follows: <br />Section 1. The Addendum is hereby approved and the President or Vice <br />• <br />President and Secretary-Treasurer are hereby authorized to execute and attest said Addendum. <br />The Lease shall be amended as of the date (the "Deposit Date") when the Authority deposits or <br />causes to be deposited a portion of the proceeds derived from the sale of the Bonds into an <br />escrow fund (the "Escrow Fund") to be established by that certain Irrevocable Escrow Deposit <br />Agreement, such Agreement to be dated as of January 15, 1997, to reduce the annual rental <br />payments payable in semi-annual installments. The Deposit Date shall be recorded as an <br />endorsement to the Addendum. <br />Section 2. The Authority hereby authorizes and directs the President of the <br />Authority to execute and deliver the Notice of Redemption to the Trustee on the Deposit Date. <br />Section 3. This Resolution shall be in full force and effect after its adoption <br />by the Authority. <br />-2- <br />