HomeMy WebLinkAbout1994-03-15 Resolution 90• RESOLUTION NO. 90
RESOLUTION OF THE SOUTH $END REDEVELOPMENT
AUTHORITY INDICATING ITS INTENT TO ISSUE REDEVELOPMENT
AUTHORITY LEASE RENTAL REVENUE REFUNDING BONDS AND THAT
CERTAIN PRELIMINARY COSTS BE REIMBURSED
FROM THE PROCEEDS OF SAID BONDS
WHEREAS, the South Bend Redevelopment Authority (the
"Authority") desires, pursuant to IC 36-7-14.5-19, to issue its
South Bend Redevelopment Authority Lease Rental Revenue Refunding
Bonds (South Bend Central Development Area Public Improvement
Project Refunding) (the "Bonds") for the purposes of financing the
costs of refunding the outstanding lease rental revenue bonds
issued in 1990 to finance the acquisition of property and
construction of local public improvements and costs related thereto
in the South Bend Central Development Area and paying the costs of
issuance of the Bonds (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 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 hereby 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 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 March 15, 1994, at 455 County-City Building, 227
West Jefferson, South Bend, Indiana.
SOUTH BEND REDEVELOPMENT AUTHORITY
1I
By : ~ ~I a r
V~S~~II-. ~• ~rn~~~~vs,~.~ ,
President
ATTEST:
ecreta
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