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1990-03-02 Minutes
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1990-03-02 Minutes
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THE BOND RESOLUTION APPENDIX II <br />RESOLUTION NO. 17 <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 />(SOUTH BEND CENTRAL DEVELOPMENT <br />AREA PUBLIC IMPROVEMENT PROJECT) <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority) <br />has been created pursuant to I.C. 36-7-14.5 as ` a separate body, <br />corporate and politic, and as an instrumentality of the .City of South <br />Bend to finance local public improvements for lease to the South. Bend <br />Redevelopment Commission (the "Commission") ; and <br />WHEREAS, the Authority intends to issue bonds in the ..aggregate <br />amount of Four Million Eight Hundred Ninety-Five Thousand Dollars <br />($4,895,000) pursuant to I.C. 36-7-14..5-19 to be known as the "South <br />• Bend Redevelopment Authority Lease Rental Revenue Bonds (South Bend <br />Central Development Area Public Improvement Project)" (the "Bonds"), <br />the proceeds of which are to be used to finance certain land. and <br />public improvements (the "Project") and to pay the costs of issuance <br />of the Bonds; and <br />WHEREAS, the Authority .intends to lease .the Project to the <br />Commission pursuant to a lease dated as of November 1, 1989 (the <br />"Lease"), which Lease was heretofore approved and executed by this <br />Authority; and <br />WHEREAS, there has been prepared and submitted to the Authority a <br />form of Trust Agreement to be dated as of November 1, 1989 between <br />the Authority and First Interstate Bank of Northern Indiana, N.A., as <br />• <br />II-1 <br />
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