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1988- 06-14 Minutes
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1988- 06-14 Minutes
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APPENDIX B <br />RESOLUTION NO. 8 <br />• RESOLUTION OF THE SOUTH BEND <br />• REDEVELOPMENT AUTHORITY AUTHORIZING <br />THE ISSUANCE OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY LEASE <br />RENTAL REVENUE BONDS <br />(COVELESKI STADIUM PROJECT) <br />WHEREAS, the South Bend Redevelopment Authority (the <br />"Authority").has been created pursuant to I.C. 36-7-14.5 as a <br />separate body, corporate and politic, and as an instrumentality <br />of the City of South Bend to finance local public improvements <br />for lease to the South Bend Redevelopment Commission (the <br />"Commission"); and <br />WHEREAS, the Authority intends to issue bonds in the <br />aggregate amount of $5,685,000 pursuant to L.C. 36-7-14.5-19 0 <br />be known as the "South Bend Redevelopment Authority Lease Rental <br />Revenue Bonds (Coveleski Stadium Project)" (the "Bonds"), the <br />~` proceeds of which are to be used to finance the acquisition of a <br />stadium facility known as the "Stanley Coveleski Regional <br />Stadium" (the "Facility"), including the. site thereof, and to pay <br />the costs of issuance of the Bonds; and <br />Wi;EREAS, the Authority intends to lease the Facility to <br />the Commission pursuant to a lease dated as of June 1, 1988 (the <br />"Lease"), which Lease was heretofore approved and executed by <br />this Authority; and <br />WHEREAS, there has been prepared and submitted to the <br />Authority a form of Trust Agreement to be dated as of June 1, <br />1988, between the Authority and First Interstate Bank of Northern <br />Indiana, N.A., as Trustee (the "Trust Agreement") which Trust <br />Agreement provides for, among other things, the issuance of such <br />Bonds to finance the acquisition of the Facility, including the <br />' site thereof; <br />
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