HomeMy WebLinkAbout1996-03-13 Resolution 106v
RESOLUTION NO.
RESOLUTION OF THE SOUTH BEND 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 I.C. 36-7-14.5-19 and I.C. 5-1-5, to issue its South Bend Redevelopment
Authority Lease Rental Revenue Refunding Bonds, Series 1996 A (South Bend Central
Development Area Public Improvement Project) and Series 1996 B (Airport Economic
Development Area Public Improvement Project) (collectively referred to herein as the
"Bonds") for the purposes of financing the costs of (i) 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, (ii) refunding the outstanding lease rental revenue bonds issued in 1991 to finance the
acquisition of property and construction of local public improvements and costs related
thereto in the Airport Economic Development Area, and (iii) 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, Indiana (the "City"), before the issuance and delivery of the Bonds;
anal
WHEREAS, the Authority desires to reimburse itself and the City for the
preliminary costs and expenses incurred or advanced in financing the Refunding from
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proceeds of the Bonds, when issued, including such financial advisor 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 I.C. 36-
7-14.5-19 and I.C. 5-1-5 to obtain money to pay for the costs of the Refunding.
2. The Authority hereby establishes its intent, pursuant to I.C. 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 13, 1996, in 1308 County-City Building, 227 West Jefferson, South Bend, Indiana.
SOUTH BEND REDEVELOPMENT AUTHORITY
ose W. Wroblewski, President
ATTEST:
Mar O. Ferlic,
Secretary-Treasurer
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