Approving a Proposed Lease for Certain Local Public Improvements, The Issuance of Lease Rental Revenue Bonds

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Umbaugh and Associates, LLP, financial advisor to the City, that (i) the interest rates on the Bonds are expected not to exceed six percent (6 %); (ii) the term of the Bonds is expected not to exceed twenty -two (22) years; (iii) the Authority expects to capitalize interest on the Bonds for a period beginning on the date of issuance of the Bonds and extending through and including not later than February 1, 2017; and (iv) the Bonds will be subject to optional redemption by the Authority beginning on a date not later than ten (10) years from the date of issuance of the Bonds. SECTION II. The Common Council hereby approves said Lease, as approved by the Commission, pursuant to Section 25.2 of the Act, in substantially the form provided at this meeting and attached hereto as Exhibit A. The Common Council hereby approves of the issuance of the Bonds by the Authority as described herein in an aggregate principal amount not to exceed Twenty -five Million and 00 /100 Dollars ($25,000,000.00). SECTION III. This Resolution shall be in full force and effect from and after the time it has been adopted by the Common Council, approved by the Mayor, and otherwise executed and delivered in accordance with any and all laws pertaining thereto. COMMON COUNCIL OF THE CI UTH BEND, INDIANA Member of the Common Council PRESENTED L i -` NOT APPROVED ADOPTED L –q –(- -3 Filed Office it 3 2014 i CITY Ct.EP" ,