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2 <br />(f) the maximum term of the Lease shall not exceed nineteen (19) years; and (g) interest on the <br />Bonds may be capitalized or paid from the proceeds of the Bonds based upon the recommendation <br />of the municipal advisor to the Authority; and <br />WHEREAS, in order to provide a source of funding to pay the principal of and interest on <br />the Bonds when due, the Authority and Commission have authorized a form of Lease dated as of <br />July 1, 2026 (the “Lease”) providing for the lease of certain property in the City as more fully <br />described in the Lease (the “Leased Premises”); and <br /> <br />WHEREAS, the Board of Public Works holds certain real property located in the City <br />described in Exhibit A (the “Property”); and <br /> <br />WHEREAS, the Authority desires to acquire an interest in the Leased Premises for the <br />purpose of leasing the Property pursuant to the terms of the Lease; and <br />WHEREAS, in order to effectuate the bond transaction, the Board of Public Works desires <br />to convey the Property to the Authority pursuant to I.C. § 36-1-11-8 and subject to the terms of <br />this Resolution. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF SOUTH BEND BOARD <br />OF PUBLIC WORKS AS FOLLOWS: <br /> <br />1. The Board of Public Works hereby approves the transfer of the Leased Premises <br />from the Board of Public Works in accordance with I.C. § 36-1-11-8, the Act. The <br />President of the Board (the “President”) is authorized and directed, in the name of <br />the City, to execute and deliver a quit claim deed in a form substantially similar to <br />the document attached hereto as Exhibit A, conveying all of the Board of Public <br />Works’ right, title, and interest in the Property to the Authority. <br /> <br />2. The Board of Public Works authorizes Erin Michaels of the City’s Department of <br />Community Investment to deliver the Deed for recordation to the Office of the <br />Recorder of St. Joseph County, Indiana and execute any other document necessary <br />to affect the Authority’s acceptance of the Leased Premises from the Board of <br />Public Works. <br /> <br />3. This Resolution will be in full force and effect upon its adoption by the Board of <br />Public Works. <br /> <br /> <br />Signature Page Follows <br />