HomeMy WebLinkAboutNo. 0262 authorizing the issuance of certain project temp. loan notes in connection with the LaSalle Park Urban Renewal Project INDIANA R-57, providing security for the payment thereof and other purposesRESOLUTION NO. 262
RESOLUTION TO FURTHER AMEND A RESOLUTION AUTHORIZING
THE ISSUANCE OF CERTAIN PROJECT TEMPORARY LOAN NOTES
IN CONNECTION WITH THE LASALLE PARK URBAN RENEWAL
PROJECT, INDIANA R -57, AND PROVIDING FOR THE SECURITY
FOR THE PAYMENT THEREOF, AND FOR OTHER PURPOSES
WHEREAS, the United States of America (herein called the "Government ")
and the City of South Bend, Department of Redevelopment (herein called
the 'Local Public Agency'% have entered into a certain Loan and Capital
Grant Contract, dated the 22nd day of April, 1966, and identified as
Cont act No. Ind. R- 57(LG) (said Contract as heretofore amended being
herein called the "Existing Contract ");
WHEREAS, a Resolution entitled "Resolution Authorizing the Issuance
of Certain Project Temporary Loan Notes in Connection with the LaSalle
Park Urban Renewal Project, Ind. R -57, and Providing for the Security
for the Payment Thereof, and for other Purposes ", was duly adopted by
the South Bend Redevelopment Commission, Governing Body of the City of
Sout Bend, Department of Redevelopment on April 18, 1969, (said Resolu-
tion as heretofore amended being herein called the "Basic Note Resolu-
tion'); and
HEREAS, it is necessary that the Basic Note Resolution be amended
so t at the provisions thereof will be responsive to and consistent with
the rovisions of the Existing Contract as amended by Third Amendatory
Contract amending Loan and Capital Grant Contract No. Ind. R- 57(LG).
OW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment Com-
mis s'on, Governing Body of the City of South Bend, Department of Re-
deve opment as follows:
ection 1. That the Basic Note Resolution be amended as follows:
a) By deleting from Section 1 thereof the amount of Three Million
Two undred Eighty -Four Thousand, Eight Hundred Sixty -Eight ($3,284,868.00)
9611 rsr -,rai JAserting in lieu thereof the amount of Three Million Four
Hund ed Sixty -Six Thousand, Eight Hundred Sixty -Eight ($3,466,868.00)
Doll rs.
tion 2. That the Project Loan Notes shall be in substantially
the as shown in the sample Project Loan Note attached hereto and
mark Jocm
d Exhibit A.
ection 3. That this Resolution shall take effect immediately.
Adop ed at the Regular Meeting of the South Bend Redevelopment Commission,
held on May 16, 1969, at the Office of the Commission, 120 West LaSalle
Aven e, Suite 1001, South Bend, Indiana 46601.
CITY OF S UTH BEND
DEPARTWNVOF REDEVELOPMENT
� r_
aid A. Wiggins,
ATTEST: