HomeMy WebLinkAbout1998-10-19 Resolution 129RESOLUTION NO. ~~
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
AUTHORITY INDICATING ITS INTENT TO ISSUE
REDEVELOPMENT AUTHORITY LEASE RENTAL
REVENUE REFUNDING BONDS AND THAT CERTAIN
PRELIMINARY COSTS BE REIMBURSED FROM THE
PROCEEDS OF SAID BONDS
WHEREAS, the South Bend Redevelopment Authority (the "Authority") desires,
pursuant to I.C. 36-7-14.5-19 and I.C. 5-1-5, to issue its South Bend Redevelopment Authority Lease
Rental Revenue Refunding Bonds of 1998 (Blackthorn Golf Course Project), (the "Bonds") for the
purposes of financing the costs associated with (i) advance refunding the outstanding lease rental
revenue bonds issued in 1992 to fmance the construction of certain local public improvements and
costs related thereto, including, without limitation, a public golf course and related facilities, in the
® Airport Economic Development Area; and (ii) the issuance of the Bonds (collectively, the
"Refunding"); and
WHEREAS, certain preliminary expenses relating to the Refunding have been or will
be incurred by the Authority or incurred or advanced on behalf of the Authority by the City of South
Bend, Indiana (the "City"), before the issuance and delivery of the Bonds; and
WHEREAS, the Authority desires to reimburse itself and the City for the preliminary
costs and expenses incurred or advanced in financing the Refunding from proceeds of the Bonds,
when issued, including such financial advisor and attorney fees necessary for completion of the
Refunding;
•
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
• Authority as follows:
1. The Authority hereby determines to issue its Bonds pursuant toI.C. 36-7-14.5-
19 and I.C. 5-1-5 to obtain funds to pay for the costs of the Refunding.
2. The Authority hereby establishes its intent, pursuant to I.C. 5-1-14-6, to
reimburse itself and the City for preliminary costs and expenses incurred or advanced in financing
the Refunding from the proceeds of the Bonds when issued.
3. This Resolution shall be in full force and effect from and after its adoption
by the Authority.
ADOPTED at a meeting of the South Bend Redevelopment Authority held on
October 19, 1998, in 1308 County-City Building, 227 West Jefferson, South Bend, Indiana.
SOUTH BEND REDEVELOPMENT AUTHORITY
arolyn enhauer, re ' ent
ATTEST:
o Alvarez, Secretary-Try surer
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