1997-04-18 Resolution 113 - Laserfiche WebLink

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• RESOLUTION NO. 1 1 3 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY ESTABLISHING ITS INTENT TO ISSUE REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE BONDS .AND THAT CERTAIN PRELIMINARY COSTS BE REIMBURSED FROM THE PROCEEDS OF SAID BONDS WHEREAS, the South Bend Redevelopment Authority (the "Authority") intends to issue its lease rental revenue bonds (the "Bonds") for the purpose of providing funds to acquire, construct, renovate and equip the Morris Performing Arts Center which includes the Morris Civic Center and certain portions of the Palais Royale facility located in South Bend, Indiana (the "Project"); and • WHEREAS, certain preliminary costs in financing the Project, have been or will be incurred by or on behalf of the Authority and the South Bend Redevelopment Commission (the "Commission") prior to the issuance and delivery of the Bonds; and WHEREAS, the Authority reasonably expects to reimburse such preliminary costs of the Project with proceeds of the Bonds; and WHEREAS, the Authority expects that any such Bonds will be issued in an aggregate principal amount not to exceed Thirteen Million Nine Hundred Thousand and 00/100 Dollars ($13,900,000.00); and WHEREAS, the Authority desires to declare its official intent, pursuant to I.C. 5-1-14-6(b) and §1.150-2 of the Treasury Regulations promulgated by the Internal Revenue Service (the "Treasury Regulations"), that said preliminary costs be reimbursed from the proceeds • of the Bonds;