Economic Development Revenue Bonds Romana R Primus M.D. Project

Home Browse Search

WHEREAS, it is now necessary, in connection with the financing,, that the Commission approve the financing, the forms and terms of the basic documents, and the $331,000.00 Economic Development Revenue Bonds, Series 1980 (Romana R. Primus, M.D. Project) _(the _ "Bonds " -)-, . proposed -to -be_issuecl_to _finance the Project: NOW, THEREFORE, Be It Resolved by the South Bend Economic Development Commission of the City of South Bend, Indiana, as follows: Section 1. The financing and completion of the Project in accordance with the Indenture of Trust (the "Indenture ") from the Issuer to First Bank and Trust Company of South Bend, South Bend, Indiana, as Trustee, for the benefit of the bondholders (the "Trustee "), the loan of the proceeds derived from the sale of the Bonds to Romana R. Primus,. M.D. (the "Borrower "), and the financ- ing of the Project through the issuance of the Bonds, are hereby approved, determined and found to be in the - public interest and in furtherance of the -- public purposes - contemplated by - -the Act, in compliance - with the --provisions-,of- the Act -, -- and -of -- direct benefit to the health and welfare of the Issuer and its citizens. Section 2. For the purpose of financing the Project, includ- ing necessary expenses incidental- thereto, the Bonds are hereby approved in the -form and with the terms and provisions provided in- the- - indenture . Section 3. The Indenture, in substantially the form now before this meeting, is hereby in all respects approved and incorporated by reference and made a part hereof.