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n ~ , <br />RESOLUTION NO. <br />RESOLUTION OF THE- SOUTH BEND REDEVELOPMENT <br />AUTHORITY APPROVING AND RATIFYING THE SALE OF <br />SOUTH BEND REDEVELOPMENT AUTHORITY LEASE RENTAL <br />REVENUE REFUNDING BONDS SERIES 1996 A (SOUTH BEND <br />CENTRAL DEVELOPMENT AREA PUBLIC IMPROVEMENT <br />PROJECT) AND APPROVING THE EXECUTION OF AN <br />ADDENDUM TO THE LEASE BETWEEN THE AUTHORITY AND <br />THE SOUTH BEND REDEVELOPMENT COMMISSION AND <br />OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Authority (the "Authority") at a <br />meeting on March 13, 1996, adopted Resolution No. 107 (the "Bond Resolution") authorizing <br />the issuance and sale of bonds to be known as the "South Bend Redevelopment Authority Lease <br />Rental Revenue Refunding Bonds, Series 1996 A Bonds (South Bend Central Development Area <br />Public Improvement Project)" (the "Bonds") pursuant to IC 36-7-14.5 et sec,., in the aggregate <br />principal amount not to exceed Six Million and 00/100 Dollars ($6,000,000.00), the proceeds of <br />which are to be used to refund the South Bend Redevelopment Authority Lease Rental Revenue <br />Bonds (South Bend Central Development Area Public Improvement Project) (the "1990 Bonds") <br />issued in 1990 to finance the construction of certain public improvements in the South Bend <br />Central Development Area (the "Project") and certain other lease rental revenue bonds of the <br />Authority, and to pay the costs of issuance of the Bonds; and <br />WHEREAS, the Bond Resolution authorized the President to enter into a bond <br />purchase agreement (the "Bond Purchase Agreement") to provide for the sale of the Bonds to <br />City Securities Corporation; and <br />WHEREAS, the financial advisor to the Authority had determined that it is in the <br />• best interest of the Authority to refund only a portion of the 1990 Bonds at the present time; and <br />