HomeMy WebLinkAboutNo. 0225 further amending a resolution authorizing issuance of certain project temporary loan notes in connection with urban renewal project No. IND R-57 and providing for security for pmt. thereof and other purposesRESOLUTION NO. 225
RESOLUTION TO FURTHER AMEND A RESOLUTION AUTHORIZING
THE ISSUANCE OF CERTAIN PROJECT TEMPORARY LOAN NOTES.
IN CONNECTION WITH URBAN RENEWAL PROJECT NO. _I11D R -57
-_ AND PROVIDING FOR THE'SECURITY FOR THE PAYMENT
THEREOP,AND FOR OTHER PURPOSES.
WHEREA , the United States of America (herein called the "Government ") and
the Ci of South Bend De nt of Redeve meat
(herein ca ed the Local Public Agency")., have entered into a certain Loan and
Capital Gra t Contract, dated Avril 22. 1966 , and identified as Contract
No. Ind. ]R-51(W) (said Contract as heretofore amended being herein called
the Exists g Contract "); and
47HEREA , a Resolution entitled "Resolution Authorizing the Issuance of
Certain Project Temporary Loan Notes in Connection with Urban Renewal Project
No. Ind. T and Providing for the Security for the Payment Thereof, and
for other purposes ", was duly adopted by the South Bend Redevelopment
Commissl on of the City of ou 50., DeRartment o
Redevelcqiment on said
Resolution as heretofore amended being herein called the Basic Note Resolution ");
and
WHEREAS,it is necessary that the Basic Note Resolution be amended so that
the provisions thereof will be responsive to and consistent with the provisions
of the Existing Contract as amended by Second Amendatory Contract amending
Loan and Capital Grant Contract No. Ind. R
NOW, THERWORE5, BE IT RESOLVED by the South Bend Redevelopment Commission
of the _ City of South Bend, Department
of Re, vela ment as follows:
further
Secti n 1. That the Basic Note Resolution be/amended as follows:
(a) y deleting from Sectim i thereof the amount Two Killion Six � - Hundred
Thousand E t Hundred Eight Dollars 2,600,bO .00
and inserting in lieu thereof the amount Three Million Twm Hundred Ei t Four
Thousand E t Hundred Sixty Eight - - -- Dollars 2 .00
Sects n 2. That this Resolution shall take effect immediately.
i
Adopted at the regular meeting of the Redevelopment Commission at'the office
of the Commission, 120 West LaSalle Avenue, Suite 1001, South Bend, Indiana,
on July. 3, 1968.