6.C.(8) Resolution No. 2525 - Laserfiche WebLink

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RESOLD"PION NO. 2S2S RESOLD"LION OF THE SOUTH BEND REDEVELOP'~1ENT COM~1ISSION APPROVING OF THE EXECU"PION OF AN ADDENDUM TO THE SECOND ADDENDU!~~1 TO LEASE 6F,TWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND REDEVELOPMENT C0~1~11SSION FOR THE CENTURY CEN"TER PROJECT AND ESTA6LISHING CER"FAIN FUNDS AND ACCOUNTS RELATING TO "1'HE PAYMENT OF THE RENTALS'THEREFOR WHEREAS. the South Bcnd Redevelopment Authority (the "Authority") has been created pursuant to Indiana Code ~6-7-14.5 as a separate body, corporate and politic. and as an instrumentality of the City of South Bcnd, Indiana, to finance local public improvements for Iease to the South Bcnd Redevelopment Commission (the "Conunission"): and Wl{EREAS. the Authority intends to issue its lease rental revenue bonds in an aggregate principal amount of dour :Million Six Hundred Fifty-tive Thousand and 00' 100 Dollars (:1.(,55,000.00) pursuant to Indiana Codc ~6-7-14.5-19 and a Trust Agreement (the "Trust A~~recment") bet~aecn the Authority and U.S. bank vational Association, as trustee (the "~frustee"), the proceeds of ~~~hich arc to be used to finance (i) the i~illo~~~in« impr~~~cmcnts to the Century Center: the addition oti skylight safety tilm. the replacement of boilers and chillers. repairs on island Park, the replacement of the fire alarm and secw-ity systems. the renovation of seven (7) reshooms. the renovation of C Hall, the rcplaccmcnt of the roofs. site lighting additions, exterior masonry work. and additional enhancements to the building. growlds and strectscape including, but not limited to. street Icy cl and river level interior and exta~ior si~~nage. enhancement to the upper lc~~c1 offices, and enhancement to the front of building and vie~a~ing park and related improvements. and (ii) the acquisition of an interest in certain improvements previously financed with the issuance of the St. Joseph County, Indiana. Special Tax Bonds of 199?, which ~a~ac refunded with the issuance of the SL Joseph County, Indiana, Special Tax Bonds of 199 (collectively, the "Project"): and WHEREAS, the .Authority pre~~iously entered into a Second Addendum to the Lease dated as of November 1. 199; bete°een the Authority and the Commission dated as of Junc 1. ?OOf~ (the "Second Addendum to Lease"). ~yhcrebv the Authority ~yill lease to the Commission. as lessee (the "Lessee"), the Project and WHEREAS. the St Joseph County Hotel-.'Motel Tax Board of Managers (the 'Board of Mangers") adopted a resolution on Junc -}_ ?00~, pledging a portion of the Hotel-Motel Tax Revenues (the "Hotel Motel Tax Revenues") distributed to the Board of Managers annually ~suun~,i :a,:~,i i~ i