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RESOLUTION NO. 840 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION APPROVING A PROPOSED LEASE BETWEEN THE <br />SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND <br />REDEVELOPMENT COMMISSION FOR THE STANLEY COVELESKI REGIONAL <br />STADIUM, SETTING A PUBLIC HEARING ON THE PROPOSED LEASE <br />PURSUANT TO I.C. 36 -7 -14 -25.2, AND AUTHORIZING <br />PUBLICATION OF NOTICE OF THE PUBLIC HEARING <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority ") <br />on March 10, 1988, adopted a resolution indicating its intent to issue <br />its Redevelopment Authority revenue bonds for the purpose of obtaining <br />money to pay for the costs of refinancing the Stanley Coveleski <br />Regional Stadium (the "Stadium "); and <br />WHEREAS, the Board of Park Commissioners of the Park District of <br />the City of South Bend (the "Park Board ") on April 12, 1988, adopted a <br />resolution assigning its option to purchase ( "Option to Purchase ") all <br />of Security Pacific National Bank's right, title and interest in and <br />to the Stadium to the Authority for purposes of facilitating the <br />exercise of said Option to Purchase as provided for in Section 8.01(b) <br />of the AGREEMENT FOR LEASE WITH PURCHASE OPTION BETWEEN SECURITY <br />PACIFIC NATIONAL BANK AND THE PARK BOARD dated December 9, 1985 and <br />amended on September 15, 1986 and March 2, 1988; and <br />WHEREAS, on April 14, 1988, the Authority adopted a resolution <br />accepting the assignment of the Option to Purchase from the Park Board <br />and approved a proposed Lease between the Authority and the South Bend <br />Redevelopment Commission (the "Commission ") for the lease of the <br />,,Stadium; and <br />WHEREAS, the Authority has filed the proposed Lease with the Com- <br />mission, a copy of which is attached hereto as Exhibit "All; and <br />-1- <br />