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~~ <br />i- <br />RESOLUTION NO. 27 <br />RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY AUTHORIZING <br />THE ISSUANCE OF THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY LEASE <br />RENTAL REVENUE BONDS <br />(AIRPORT ECONOMIC .DEVELOPMENT <br />AREA PUBLIC IMPROVEMENT PROJECT) <br />AND REGARDING OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the <br />iti <br />"Authority") has been created pursuant to I.C. 36-7-14.5 as a <br />separate body, corporate and politic, and as an instrumentality of <br />the City of South Bend to finance local public improvements for <br />lease to the South Bend Redevelopment Commission (the <br />"Commission'! ); and <br />WHEREAS, the Authority intends to issue bonds in the <br />aggregate amount of Two Million Three Hundred Fifty-Five Thousand <br />Dollars ($2,355,000) pursuant to I.C. 36-7-14..5-19 to be known as <br />the "South Bend Redevelopment Authority Lease Rental Revenue Bonds <br />(Airport Economic Development Area Public Improvement Project)" <br />(the."Bonds"), the proceeds of which are to be used to finance <br />certain land and public improvements (the "Project") and. to pay the <br />costs of issuance of the Bonds; and <br />WHEREAS, the Authority intends to lease the Project to <br />the Commission pursuant to a lease dated as of August 1, 1990 (the <br />"Lease"), which Lease was heretofore approved and executed by this <br />Authority; and <br />WHEREAS, there has been prepared and submitted to the <br />Authority a form of Trust Agreement to be dated as of December 1, <br />1990 between the Authority and Society Bank, Indiana, as Trustee <br />