HomeMy WebLinkAbout1988-03-10 Resolution 1~. ~~
RESOLUTION NO. 1
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY
"'' INDICATING ITS INTENT TO ISSUE REDEVELOPEMENT AUTHORITY
REVENUE BONDS,-RATIFYING AND CONFIRMING AN ARCHITECTURAL CONTRACT
AND INDICATING ITS INTENT TO BE REIMBURSED FOR PRELIMINARY.
PROJECT CO5T5 FROM PROCEEDS OF BONDS TO BE ISSUED
WHEREAS, the South Bend Redevelopment Authority ("Authority") in-
tends. to issue its South Bend Redevelopment Authority Revenue Bonds
(the "Bonds") for the purposes of obtaining money to pay for the
costs of constructing a parking facility at the northwest corner of
St. Joseph Street and Wayne Street (the "St. Joseph/Wayne Parking
Facility") and for the costs of refinancing the Coveleski Regional
Stadium (the "Stadium").(the St. Joseph/Wayne Parking Facility and
the Stadium shall hereinafter be referred to as the "Projects");
WHEREAS, the South Bend Redevelopment Commission ("Commission")
on the 16th day of December, 1987, entered into a contract for
• ~ engineering services with CWA Walker, Inc. for the design of the St.
Joseph/Wayne Parking Facility pursuant to 36-7-14 and in compliance
with IC 5-16-11.1; and
WHEREAS, the Commission was required to take such action prior to
the. time of the existence of the Authority to assure timely comple-
tion of the financing 'and construction of the St. Joseph/Wayne
Parking Facility; and
WHEREAS, the Authority desires to reimburse itself for the
preliminary costs incurred in financing the Projects from proceeds of
the Bonds, when issued, including such architectural, engineering,
consultant and attorneys fees necessary for construction of the
Projects.
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NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment
Authority as follows:
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1. The Authority determines to issue its Bonds pursuant to IC
36-7-14.5 to obtain money to pay for the costs of the Projects.
2. The Authority hereby ratifies and assumes the CWA Walker,
Inc. engineering contract previously executed by the Commission and
determines. that it is expedient and in the best. interests to employ
CWA Walker, Inc a as architect for the St. Joseph/Wayne Parking
Facility, and that said employment is necessary for the construction
of said facility.
3. The Authority hereby establishes its intent, pursuant to IC
5-1-14-6, to reimburse itself for preliminary costs incurred in finan-
cing the Projects from the proceeds of the Bonds-when issued.
4. This resolution shall be in full force and effect from and.
after its adoption by the Authority.
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ADOPTED at a meeting of the South Bend Redevelopment Authority
held on March 10, 1988, at the office of the Authority, 1200 County-
City Building, 227 W. Jefferson Blvd., South Bend, Indiana.
ATTEST:
Secret y
CITY OF SOUTH BEND REDEVELOPMENT
AUTHORITY
By: .~~ zr
Presiden
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