No. 3198 approving $4,000,000 of Qualified Zone Academy Bonds (South Bend Career Academy)

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RESOLUTION NO. 3198 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING $4,000,000 OF QUALIFIED ZONE ACADEMY BONDS (DIRECT PAY), SERIES 2011 AND 2013 (SOUTH BEND CAREER ACADEMY, INC.) (the "Bonds ") FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986 WHEREAS, the South Bend Redevelopment Commission (the "Commission ") is the governing body of the City of South Bend Department of Redevelopment (the "Local Jurisdiction ") established under the Redevelopment of Cities and Towns Act of 1953, as amended, being Indiana Code § 36-7 -14-1 et seq. (the "Act "); and WHEREAS, South Bend Career Academy, Inc., an Indiana not - for - profit corporation (whether one or more, the "Borrower "), has requested the Public Finance Authority (the "Authority'), a Wisconsin bond issuing commission created under Sections 66.0301, 66.0302 and 66.0304 of the Wisconsin Statutes (the "Act ") to issue revenue bonds to provide financing for eligible costs of the construction, reconstruction, installation and equipping of a charter school facility, together with the purchase of equipment to be utilized therein (collectively, the "Project "), located in the City of South Bend, County of St. Joseph, State of Indiana in which the Project Site is or is to be located (the "Project Jurisdiction "), as described in the notice of public hearing (the " TEFRA Notice ") attached hereto as EXHIBIT A; and WHEREAS, the issuance of the Bonds must, among other things, be approved by the governmental unit issuing the Bonds and the Local Jurisdiction, in compliance with Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code "); and WHEREAS, the TEFRA Notice was published in the South Bend Tribune not less than 14 days prior to the date of the public hearing; and WHEREAS, on December 30, 2013, a public hearing was held by the Commission on behalf of the Local Jurisdiction at the time and place set forth in the TEFRA Notice with respect to the issuance by the Authority of the above - referenced Bonds for the purpose of providing financing for the Project; and WHEREAS, such public hearing was conducted in a manner that provided a reasonable opportunity to be heard for persons with differing views on both the issuance of the Bonds and the location and the nature of the Project which is to be financed by the Bonds; and WHEREAS, attached hereto as EXHIBIT B are the minutes of the public hearing. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. For the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended, the undersigned, on behalf of the Local Jurisdiction, hereby approves the Project and the financing thereof through the issuance of the Bonds by the Authority in an aggregate principal amount not to exceed the amount set forth in the TEFRA Notice attached hereto as EXHIBIT A. 2. This Resolution shall be in full force and effect after its adoption.