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WHEREAS, the Commission desires to accept and approve the Purchase <br />Agreement and to authorize the President or Vice President and the Secretary or Vice <br />President to execute and attest, respectively, the Purchase Agreement on behalf of the <br />Commission; and <br />WHEREAS, the Commission finds that all procedures necessary for authorizing <br />and acquiring the Property pursuant to the terms of the Purchase Agreement have been <br />completed in accordance with Indiana law;. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission that: <br />1. The Commission hereby finds that the consideration set forth in the <br />Purchase Agreement is reasonable considering the circumstances and that it is in the best <br />interest of the Citizens of the City and the South Bend Redevelopment District and <br />consistent with the purposes and requirements set forth in Indiana Code § 36-7-14 to <br />accept the counteroffer evidenced in the Purchase Agreement. <br />2. The Commission hereby approves and accepts the Purchase Agreement <br />and authorizes the President or Vice-President and the Secretary or Vice-President to <br />execute and attest, respectively, the Purchase Agreement and any other documentation <br />necessary to complete the acquisition of the Property and deliver them to the Owners. <br />Legal counsel for the Commission is further authorized to close the transaction on behalf <br />of the Commission and execute any incidental closing documents necessary to complete <br />the transaction. <br />ADOPTED at the Regular Meeting of the South Bend Redevelopment <br />Commission held on December 15, 2006, at 1308 County-City Building, 227 West <br />Jefferson Boulevard, South Bend, Indiana 46601. <br />CITY OF SOUTH BEND, <br />ATTE <br />u _ <br />_.. ~~ i ~_ ~~,- l..i~ ~ ~r, .~ <br />Prince me n it e <br />South Bend Redevelopment Commission <br />South Bend Redevelopment Commission <br />