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No. 2390 a bond resolution authorizing the issuance of City of South Bend, Indiana, Redevelopment District Tax Increment Revenue Bonds of 2007 (Douglas Road Economic Development Area project)
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No. 2390 a bond resolution authorizing the issuance of City of South Bend, Indiana, Redevelopment District Tax Increment Revenue Bonds of 2007 (Douglas Road Economic Development Area project)
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7/27/2009 4:44:07 PM
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(4) that on the redemption date the redemption price will become due <br />and payable upon each such Bond or portion thereof called for <br />redemption, and that interest thereon shall cease to accrue from <br />and after said date, and <br />(5) the place where such Bonds are to be surrendered for payment of <br />the redemption price, which place of payment shall be the place <br />provided for the payment of the principal of and premium, if any, <br />on the Bonds. <br />Prior to any redemption date, the Commission shall deposit with the <br />Paying Agent an amount of money sufficient to pay the redemption price of all the Bonds <br />or portions of Bonds which are to be redeemed on that date. <br />Official notice of redemption having been given as aforesaid, the Bonds or <br />portions of Bonds so to be redeemed shall, on the redemption date, become due and <br />payable at the redemption price therein specified, and from and after such date (unless the <br />Commission shall default in the payment of the redemption price) such Bonds or portions <br />of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in <br />accordance with said notice, such Bonds shall be paid by the Paying Agent at the <br />redemption price. Bonds redeemed in part may be exchanged for a Bond or Bonds of the <br />same maturity in Authorized Denominations equal to the remaining principal amount. In <br />addition to the foregoing notice, further notice may be given by the Registrar as it deems <br />appropriate by mail, publication or otherwise to registered securities depositories, <br />national information services or others containing the above information and such further <br />information as the Registrar may deem appropriate, but no defect in said further notice, <br />nor any failure to give all or any portion of such further notice shall in any manner defeat <br />the effectiveness of a call for redemption if notice thereof is given as above described. <br />SECTION 3. Form of Bond. The form and tenor of the Bonds shall be <br />substantially as follows (all blanks to be properly completed prior to the preparation of the <br />Bonds): <br />(Form of Bond) <br />UNITED STATES OF AMERICA <br />State of Indiana St. Joseph County <br />No. 07R- <br />• <br />CITY OF SOUTH BEND, INDIANA, REDEVELOPMENT DISTRICT <br />TAX INCREMENT REVENUE BONDS OF 2007 <br />(DOUGLAS ROAD ECONOMIC DEVELOPMENT AREA PROJECT) <br />BDDBOI 4912282v3 - 9 - <br />
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