HomeMy WebLinkAbout1993-11-04 Resolution 84• RESOLUTION NO. 84
RESOLIITION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY
ESTABLISHING ITS INTENT TO ISSUE REDEVELOPMENT AUTHORITY
LEASE RENTAL REVENUE BONDS AND .THAT CERTAIN PRELIMINARY
REDEVELOPMENT COSTS BE REIMBURSED FROM THE PROCEEDS OF SAID BONDS
WHEREAS, the South Bend Redevelopment Authority (the
"Authority") desires to issue its South Bend Redevelopment
Authority Lease Rental Revenue Bonds (the "Bonds") to finance the
construction and equipping of the College Football Hall of Fame and
the acquisition of and construction of improvements to and
expansion of the Century Center (collectively, the "Project"); and
WHEREAS, the Authority adopted Resolution No. 63 on
August 28, 1992, indicating its intent for purposes of the Treasury
Regulations to reimburse certain preliminary expenditures with
respect to the construction and equipping of the College Hall of
Fame in a maximum amount not to exceed Three Million and 00/100
Dollars ($3,000,000.00); and
WHEREAS, certain preliminary costs in financing the
construction of improvements to and expansion of the Century
Center, have been or will be incurred by or on behalf of the
Authority and the South Bend Redevelopment Commission (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 36-7-14.5 for the purpose of financing the
construction of the Project and ratifies the adoption of Resolution
No. 63 by the Authority regarding the reimbursement of preliminary
expenditures related to the construction and equipping of the
College Football Hall of Fame.
2. The Authority hereby acknowledges that the issuance
of the Bonds by the Authority will be subject to the approval of
the Common Council of the City and the Mayor which approval shall
be obtained following the conclusion of the proceedings related to
the approval of the lease between the Authority and the Commission.
3. The Authority hereby establishes its intent,
pursuant to IC 5-1-14-6(b), that preliminary costs incurred by or
on behalf of the Authority and the Commission in financing the
construction of improvements to and expansion of the Century Center
be reimbursed from the proceeds of the Bonds.
4. 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 November 4, 1993, at 1308 County City Building,
227 West Jefferson, South Bend, Indiana.
SOUTH BEND REDEVELOPMENT AUTHORITY
By: ,~pr~ ~:
sep W. Wroblewski, President
AT EST:
Donald K. Fewell, Secretary
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