HomeMy WebLinkAbout1991-10-18 Resolution 42RESOLIITION NO. 42
RESOLIITION OF THE SOIITH BEND REDEVELOPMENT AIITHORITY
INDICATING ITS INTENT TO ISSIIE REDEVELOPMENT AIITHORITY
' LEASE RENTAL REVENIIE BONDS AND INDICATING ITS INTENT
TO BE REIMBIIRSED FOR PRELIMINARY PROJECT COSTS AND
EBPENSES FROM PROCEEDS OF BONDS TO BE ISSIIED
WHEREAS, the South Bend Redevelopment Authority (the
"Authority") intends, pursuant to IC 36-7-14.5-19, to issue its
Redevelopment Authority Lease Rental Revenue Bonds (the "Bonds")
for the purposes. of obtaining money to pay for the costs of
refunding the taxable lease rental revenue bonds issued in 1988 to
refinance Coveleski Stadium and which bonds are currently
outstanding (the "Refunding"); and
WHEREAS, certain preliminary expenses relating to the
• Refunding have been and will continue to be .incurred by the
Authority or incurred or advanced on behalf of the Authority by the
City of South Bend (the "City") before the issuance and delivery
of the Bonds; and
WHEREAS, the Authority desires to reimburse itself and
the City of South Bend for the preliminary costs and expenses
incurred or advanced in financing the Refunding from proceeds of
the Bonds, when issued, including such consultant 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 determines to issue its Bonds pursuant
to IC 36-7-14.5-19 to obtain money to pay for the costs of the
• Refunding.
2. The Authority hereby establishes its intent,
• pursuant to IC 5-1-14-6, to reimburse itself and the City of South
Bend 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 the 18th of October, 1991, at the office of the
Authority, 1200 County-City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT AUTHORITY
By:
• Jos h Wroblewski, President
ATTEST:
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By : ~~-~--2--~--------~
Donald Fewell, Secretary
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