HomeMy WebLinkAbout1993-06-17 Resolution 76
76
RESOLUTION NO.
• RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
AUTHORITY INDICATING ITS INTENT TO ISSUE REDEVELOPMENT
AUTHORITY TAXABLE 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 Taxable Lease Rental Revenue
Bonds (the "Bonds") for the purposes of financing the costs of
advance refunding the taxable lease rental revenue bonds issued in
1991 to finance the construction of certain road improvements and
land acquisition in the Airport .Economic Development Area (the
"Area") and which bonds are currently outstanding and to acquire
additional property for purposes of redevelopment (the "Project");
• and
WHEREAS, certain preliminary expenses .relating to the
Project 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") prior to 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 Project from proceeds of the
Bonds, when issued, including such consultant and attorney fees
necessary for completion of the Project;
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 Project 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 17th of June, 1993, at 1308 County-City
Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT AUTHORITY
C
By : G(/~ ICJ
Jo ph W. Wroblewski, President
ATTEST:
Donald K. Fewell, Secretary
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