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<br />RESOLUTION NO. 77 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />AUTHORITY AUTHORIZING THE ISSUANCE OF THE <br />SOUTH BEND REDEVELOPMENT AUTHORITY TAXABLE <br />LEASE RENTAL ACQUISITION AND REFUNDING <br />REVENUE BONDS OF 1993 {AIRPORT ECONOMIC <br />DEVELOPMENT AREA PUBLIC IMPROVEMENT PROJECT) <br />AND OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the <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 not to exceed Five Million and 00/100 Dollars <br />($5,000,000.00) pursuant to I.C. 36-7-14.5-19 to be known as the <br />"South Bend Redevelopment Authority Taxable Lease Rental <br />Acquisition and Refunding Revenue Bonds of 1993 (Airport Economic <br />Development Area Public Improvement Project)" (the "Bonds"), the <br />proceeds of which are to be used to: (i) refund the South Bend <br />Redevelopment Authority Taxable Lease Rental Revenue Bonds (Airport <br />Economic Development Area Public Improvement Project) (the <br />"Refunded Bonds") issued in 1991 to pay the costs of constructing <br />and acquiring certain land and public improvements located in the <br />Airport Economic Development Area (t.he "Area"); (ii) acquire <br />additional land and construct certain public improvements in the <br />Area; and (iii) pay the casts of issuance of the Bands; and <br />• <br />