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� I <br /> I<PIEG JE UL WWW.KRIEGDEVAUET.COM <br /> March 18, 2020 <br /> MAR 18 ZQZA <br /> City of South Bend Common Council <br /> 441 County-City Building <br /> 227 West Jefferson Boulevard CITY Cillo.,;:rut�r of.:-IND,IN <br /> South Bend, Indiana 46601 <br /> Re: Bond Ordinance related to MAH/Cedar Glen Project <br /> Members of the City Council: <br /> We represent the City of South Bend as Issuer's Counsel in connection with the <br /> above-referenced Bond Ordinance and respectfully request that the attached Bond <br /> Ordinance be introduced at the Council's March 23rd meeting. John Kirkwood of Faegre <br /> Drinker Biddle& Reath LLP serves as Bond Counsel to MAH Cedar Glen, LP. <br /> The Project involves the acquisition and rehabilitation of Cedar Glen Apartments, <br /> located at 425 South 25th Street, containing 179 affordable residential rental units, and will <br /> be financed by MAH Cedar Glen, LP. The Multifamily Housing Revenue Bonds, Series <br /> 2020, described in the Bond Ordinance(the`Bonds"), are being issued pursuant to Indiana <br /> Code 36-7-11.9 and 12. The City of South Bend will act as a conduit to issue the Bonds <br /> described in the Bond Ordinance. These Bonds will be payable solely by MAH Cedar <br /> Glen, LP and will be offered in two separate series, a Series A that will have an investment <br /> grade rating and publicly offered and a Series B that will be privately placed with <br /> Merchants Bank of Indiana. The City of South Bend will have no liability or obligations <br /> under the Bond Ordinance to pay, at any time,the principal and interest on the Bonds. The <br /> principal and interest on the Bonds are payable solely by MAH Cedar Glen, LP, as further <br /> described in the Bond Ordinance and the supporting documents included along with the <br /> Bond Ordinance. <br /> Representatives of Cedar Glen and its Bond Counsel will be available for questions <br /> and comment at the April 13, 2020 meeting of the Common Council. In the meantime, if <br /> you have further questions, please do not hesitate to contact me at 574-277-1200 or <br /> cfanello@kdlegal.com or John Kirkwood at 317-569-4602 <br /> john.kirkwood@faegredrinker.com). <br /> Sincerely <br /> M. Catherine Fanello. <br /> 4101 EDISON LAKES PARKWAY.SUITE 100, M ISHAWAKA, IN 46545-3441 T574.277.1200 F574.277.1201 <br />