2008-11-05 Resolution 172 - Laserfiche WebLink

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Improvements", which were previously refunded with- the issuance of the St. Joseph County, Indiana Special Tax Bonds of 1998 (the "1998 Bonds"); and; WHEREAS, the Authority desires to .approve and execute an addendum to the Second Addendum to Lease (the "Addendum"), a copy of which is attached hereto as Exhibit B, making certain amendments to the Lease which amendments do not cause either the maximum lease rental amount payable under the Lease or the maximum term of the Lease to be exceeded; and WHEREAS, the County Council of St. Joseph County (the "County") has previously adopted a resolution determining to transfer the Existing County Improvements to the Authority pursuant to Indiana Code 36-1-11-8 in conjunction with the issuance of the Bonds by the .Authority; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Authority, as follows: 1. The Authority hereby approves the sale of the Bonds to the Underwriter in an aggregate principal amount and maturing on May 1 and November 1 in the years and in the principal amounts and bearing interest at the rates as set forth on Exhibit A. 2. The Authority hereby amends Section 3 of the Bond Resolution as follows: Section 3. The Bonds maturing on or after May 1, 2016, shall be redeemable prior to maturity at the option of the Authority, in whole or in part in whole multiples of Five Thousand Dollars ($5,000), in amounts and maturities to be determined by the Authority and by lot within maturities, on any date not earlier than November 1, 2015, from any moneys made available for that purpose, at a redemption price equal to one hundred percent (100%) of the principal amount of each Bond to be redeemed, and without premium, plus accrued interest to the redemption date. 3. The Addendum, attached hereto as Exhibit B, is hereby approved and the President or Vice President and Secretary-Treasurer of the Authority are hereby authorized to execute and attest, respectively, said Addendum in substantially the form presented at this meeting with such changes in form or substance as the President or Secretary of this Authority shall approve, such approval to be conclusively evidenced by the execution thereof. 4. All remaining terms, covenants and conditions set forth in the Lease and the Bond Resolution shall remain in full force and effect. 5. The Authority hereby determines to accept from the County the Existing County Improvements in accordance with Indiana Code 36-1-11-8 in exchange for the Authority • BDDBOI 5457484v1 - 2 -