2008-11-05 Resolution 172 - Laserfiche WebLink

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RESOLUTION NO. 172 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY APPROVING THE SALE OF THE SOUTH BEND REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE BONDS OF 2008 (CENTURY CENTER PROJECT), AMENDING RESOLUTION NO.168, APPROVING THE EXECUTION OF AN ADDENDUM TO THE SECOND ADDENDUM TO THE LEASE BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION FOR THE CENTURY CENTER PROJECT AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Authority (the "Authority") has been created pursuant to Indiana Code 36-7-14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South Bend to finance local public improvements for lease to the South Bend Redevelopment Commission (the "Commission"); and WHEREAS, the Authority adopted Resolution No. 168 on May 21, 2008 (the "Bond Resolution"), authorizing the issuance and sale of its Lease Rental Revenue Bonds of • 2008 (Century Center Project) (the "Bonds") in an aggregate principal amount not to exceed $11,690,000; and WHEREAS, the Bonds have been sold to J.J.B. Hilliard, W.L. Lyons, Inc. (the "Purchaser") in an aggregate principal amount of $4,655,000, and the Authority now desires to ratify the sale of the Bonds; and WHEREAS, the Authority desires to amend the Bond Resolution to modify the redemption terms of the Bonds to reflect more favorable redemption terms achieved in conjunction with the sale of the Bonds; and WHEREAS, the Authority previously entered into a Second Addendum to the Lease dated as of November 1, 1993 between the Authority and the Commission dated as of June 1, 2008 (the "Second Addendum to Lease"), whereby the Authority will lease to the Commission, as lessee (the "Lessee"), the following improvements to the Century Center: the addition of skylight safety film, the replacement of boilers and chillers, repairs on Island Park, the replacement of the fire alarm and security systems, the renovation of seven (7) restrooms, the renovation of C Hall, the replacement of the roofs, site lighting additions, exterior masonry work, and additional enhancements to the building, grounds and streetscape including, but not limited to, street level and river level interior and exterior signage, enhancement to the upper level offices, and enhancement to the front of building and viewing park and related improvements, and the acquisition of an interest in certain improvements previously financed with the issuance of the St. Joseph County, Indiana Special Tax Bonds of 1992 (the "Existing County • BDDBO 1 5457484v1