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ARTICLE IV. <br /> REVENUE AND FUNDS <br /> Source of Payment of the Bonds. The Bonds herein authorized and all payments to be made by <br /> the Issuer hereunder are not general obligations of the Issuer but are limited obligations payable <br /> solely from the Trust Estate(including the TIF Revenues,the IDD Revenues,the Taxpayer Direct <br /> Payments and the Loan Payments)pledged and assigned for their payment in accordance with the <br /> Indenture. No covenant or agreement contained in the Bonds or this Indenture shall be deemed to <br /> be a covenant or agreement of any member, director, officer, agent, attorney or employee of the <br /> Issuer in his or her individual capacity, and no member, director, officer, agent, attorney, or <br /> employee of the Issuer executing the Bonds shall be liable personally on the Bonds or be subject <br /> to any personal liability or accountability by reason of the issuance of the Bonds. <br /> The Redevelopment Commission has pledged the TIF Revenues to the payment of the <br /> Bonds. <br /> The IEDC has pledged the IDD Revenues to the payment of the Bonds. <br /> Bond Fund. <br /> (a) The Trustee shall establish and maintain, so long as any of the Bonds are <br /> outstanding,a separate fund to be known as the"City of South Bend,Indiana-2026 Colfax Corner <br /> Project Bond Fund"(the"Bond Fund"). Money in the Bond Fund shall be applied as provided in <br /> this Section 4.2. <br /> (b) There shall be deposited in the Bond Fund, as and when received, the TIF <br /> Revenues,the IDD Revenues,the Taxpayer Direct Payments and, if necessary,the Loan Payments <br /> in an amount equal to the payments due on the Bonds on the next February 1 or August 1 plus <br /> Trustee fees coming due within the next six(6)months with respect to the Bonds. <br /> (c) The Issuer hereby covenants and agrees that so long as any of the Bonds issued <br /> hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond <br /> Fund, prior to 10:00 a.m., Indianapolis time, on the business day immediately preceding each <br /> January 5 and July 5, commencing no later than July 5, 202_, sufficient sums from revenues and <br /> receipts derived from the TIF Revenues and IDD Revenues promptly to meet and pay the amounts <br /> required under Section 4.2(b) hereof. In the event of a deficiency of available TIF Revenues and <br /> IDD Revenues to make the next debt service payment,the Trustee shall notify the Company of the <br /> amount needed to remedy the deficiency by no later than the next January 10 or July 10, as <br /> applicable. Pursuant to the terms of the Taxpayer Agreement, the Company is obligated to make <br /> a Taxpayer Direct Payment to remedy the deficiency and the Issuer covenants and agrees to <br /> transfer all Taxpayer Direct Payments received to the Trustee. If a deficiency still remains, the <br /> Company is obligated under the Loan Agreement to make Loan Payments to the Issuer, and the <br /> Issuer covenants and agrees to immediately transfer all Loan Payments received to the Trustee. <br /> Nothing herein should be construed as requiring Issuer to deposit or cause to be paid to Trustee <br /> for deposit in the Bond Fund, funds from any source other than receipts derived from the TIF <br /> Revenues,the IDD Revenues,the Taxpayer Direct Payments and,if necessary,the Loan Payments. <br /> Filed in Clerk's Office <br /> 1 s JANia 2 1 2026 <br /> Bnca Tirado <br /> City Clerk, South Bend, IN <br />