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HomeMy WebLinkAbout1990-08-02 Resolution 23 ~~ ~~ RESOLUTION NO. 23 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY ESTABLISHING ITS INTENT TO ISSUE REDEVELOPMENT AUTHORITY REVENIIE BONDS AND THAT CERTAIN PRELIMINARY REDEVELOPMENT COSTS BE REIMBURSED FROM THE PROCEEDS OF SAID BONDS WHEREAS, the South Bend Redevelopment Authority (the "Authority") intends to issue its South Bend Redevelopment Authority Revenue Bonds (the "Bonds") to finance the acquisition and redevelopment of the Airport Economic Development Area (the "Area") established by the South Bend Redevelopment Commission (the "Commission") in its Resolution No. 919 adopted on February 23, 1990, including the projects identified in the economic development plan for the Area approved by the Commission in said Resolution .(the "Projects"); and • WHEREAS, certain preliminary costs in financing the acquisition and redevelopment of the Area, including the Projects, have been or will be incurred by or on behalf of the Authority and the Commission prior to the issuance and delivery of the Bonds; and WHEREAS, the Authority desires to establish its intent, pursuant to, IC 5-1-14-6(b), that said preliminary costs be reimbursed from the proceeds of the Bonds. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Authority as follows: 1. The Authority hereby establishes its intent to issue its Bonds pursuant to IC 36-?-14.5 for the purpose of financing the acquisition and redevelopment of the Area, including the Projects. 2. The Authority hereby establishes its intent, pursuant to IC 5-1-14-6(b), that preliminary costs incurred by or ., is on behalf of the Authority and the Commission in financing the acquisition and redevelopment of the Area, including the Projects, be reimbursed from the proceeds of the Bonds. 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 August 2, 1990, at 1200 County City Building, 227 W. Jefferson, South Bend, Indiana. SOUTH BEND REDEVELOPMENT AUTHORITY By• Jose h Wroblewski, President AT71' EST ~ ~~ ~~e~ Donald Fewell, Vice President -2- \BDDONALD\BONDS\SOBEND\AIRPORT\RSINTENT;c1b;08/02/90