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1 ~ 7 v <br />SUMMARY OF SALE NOTICE <br />(See Notice of Intent to Sell) <br />$5,685,000 <br />SOUTH BEND, INDIANA, REDEVELOPMENT AUTHORITY <br />TAXABLE LEASE RENTAL REVENUE BONDS OF 1988 <br />(COVELESKI STADIUM PROJECT) <br />(Unlimited Tai <br />Issuer and Lessor: South Bend Redevelopment Authority. <br />Lessee: South Bend Redevelopment Commission. <br />Trustee: First Interstate Bank of Northern Indiana, N. A. <br />Purpose: The Authority will sell taxable lease rental revenue-bonds to finance <br /> the acquisition of the Stadium Facility and the site, and related <br /> issuance costs, for -lease to the South Bend Redevelopment <br /> Commission pursuant to the Lease Agreement. <br />Security: Bonds will be secured by a Trust Agreement and issued pursuant to <br /> terms and provisions of the Trust Agreement and the Bond <br /> Resolution. Funds for the payment of the lease rental will be <br /> generated by the South Bend Redevelopment District from unlimited <br />• ad valorem property taxes assessed throughout the District. <br />Sale Date: Within 24 hours of notice of sale given by telephone prior to <br /> September I, 1988. <br />Anticipated Sale Date: Tuesday, July 26, 1988, Noon, Eastern Standard Time. <br />Place of Sale: Office of the South Bend Redevelopment Authority <br /> 1200 County-City Building <br /> South Bend, Indiana 46601 <br />Notice By Bidders of <br />Intent to Bid: On or before 10:00 A.M. (EST),. July 19, 1988. <br />Interested bidders must furnish in writing to the Authority c/o <br />Mr. Richard Treptow, Springsted Incorporated, 251 North Illinois <br />Street, Suite (510, Indianapolis, Indiana 46204-1942, bidder's name, <br />address, telephone number and telex number (optional). Bidders will <br />be notified at least 24 hours prior to the date and time of the sale. <br />Type of Bid: A Non-Collusion Affidavit and a sealed bid for not less than <br />$5,599,725 and accrued interest on the total principal amount of the <br />Bonds shall be filed with the Secretary of the Authority prior to the <br />time set for opening bids. (Bid Forms and aNon-Collusion Affidavit <br />are included as part of the Official Statement.) Each bid must be <br />accompanied by a certified or cashier's check in the amount of <br />$56,850 made payable to "The, South Bend Redevelopment <br />• Authority." No bid may be conditioned upon the award of any other <br />obligations of the Authority. <br />