HomeMy WebLinkAbout1992-04-30 Resolution 51• RESOLUTION NO. 51
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
AUTHORITY INDICATING ITS INTENT TO ISSUE REDEVELOPMENT
AUTHORITY LEASE RENTAL REVENUE BONDS AND THAT
CERTAIN PRELIMINARY COSTS BE REIMBURSED
FROM THE PROCEEDS OF SAID BONDS
WHEREAS, the South Bend Redevelopment Authority (the
"Authority") intends, pursuant to IC 36-7-14.5-19, to issue its
South Bend Redevelopment Authority Lease Rental Revenue Bonds (the
"Bonds") for the purposes of financing the costs of refunding the
lease rental revenue bonds issued in 1988 to finance the
construction of a parking facility at the northwest corner of
St. Joseph Street and Wayne Street and which bonds are currently
outstanding (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 (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.
• y
• 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 30th of. April, 1992, at the office of the
Authority, 1200 County-City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT AUTHORITY
By : ~~'~-~
• Andre Gammage, Vice-President
ATTEST:
By : o-+~
Donald Fewell, Secretary-Treasurer
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