Laserfiche WebLink
RESOLUTION NO. 154 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />AUTHORITY APPROVING THE REDEMPTION OF CERTAIN <br />SOUTH BEND REDEVELOPMENT AUTHORITY LEASE RENTAL <br />REVENUE BONDS, APPROVING AND AUTHORIZING THE <br />EXECUTION OF ESCROW DEPOSIT AGREEMENTS, AND <br />CERTAIN OTHER MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority") has been <br />created pursuant to Indiana Code § 36-7-14.5 (the "Act") as a separate body, corporate and <br />politic, and as an instrumentality of the City of South Bend, Indiana (the "City"), to finance local <br />public improvements for lease to the South Bend Redevelopment Commission (the <br />• "Commission"); and <br />WHEREAS, the Authority previously entered into a lease with the Commission <br />dated August 1, 1990 (the "Lease") which permitted the Authority (i) to issue bonds payable <br />from such lease rentals, the proceeds of which were used for the purpose of financing the <br />acquisition of land and construction of certain public improvements in the Airport Economic <br />Development Area (the "Area") (the "Project"), and (ii) to lease the Project to the Commission; <br />and <br />WHEREAS, the Authority has previously issued its Redevelopment Authority <br />Taxable Lease Rental Acquisition and Refunding Revenue Bonds of 1993 dated July 1, 1993, in <br />the original aggregate principal amount of Four Million Nine Hundred and Five Thousand and <br />00/100 Dollars ($4,905,000.00) (the "1993 Bonds") for the purpose of financing certain <br />• <br />SBIMANI 168062v1 <br />