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~ i' i <br />RESOLUTION NO. 49 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY <br />ESTABLISHING ITS INTENT TO ISSUE REDEVELOPMENT AUTHORITY <br />TAXABLE LEASE RENTAL REVENUE BONDS AND THAT CERTAIN PRELIMINARY <br />REDEVELOPMENT COSTS BE REIMBURSED FROM THE PROCEEDS OF SAID BONDS <br />AND APPROVING A PROPOSED LEASE BETWEEN THE SOUTH BEND REDEVELOPMENT <br />AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION FOR <br />CERTAIN LAND AND IMPROVEMENTS <br />WHEREAS, the South Bend Redevelopment Authority (the <br />"Authority") intends to issue its South Bend Redevelopment <br />Authority Taxable Lease Rental Revenue Bonds (the "Bonds") to <br />finance the acquisition of certain land and a building located <br />thereon, commonly known as the Palais Royale (the "Project"); and <br />WHEREAS, certain preliminary costs in financing the <br />acquisition of the Project, have been or will be incurred by or on <br />behalf of the Authority and the Commission prior to the issuance <br />and delivery of the Bonds; and <br />WHEREAS, the Authority desires to establish its intent, <br />pursuant to IC 5-1-14-6(b), that said preliminary costs be <br />reimbursed from the proceeds of the Bonds. <br />WHEREAS, the Authority desires to enter into and adopt <br />a proposed lease to be dated as of March 1, 1992, with the South <br />Bend Redevelopment Commission (the "Commission") in the form <br />presented at this meeting, a copy of which is attached hereto as <br />Exhibit A, for the purpose of paying the principal and interest on <br />its Bonds issued to finance the acquisition of the Project, <br />pursuant to IC 36-7-14.5-19; <br />i <br />