Laserfiche WebLink
WHEREAS, the Authority or the Commission may pay for certain costs of the Projects <br />(collectively, the "Expenditures") prior to the issuance of the Bonds, and the Authority desires to <br />reimburse the Expenditures with proceeds received by the Authority upon the issuance of the <br />Bonds; and <br />WHEREAS, the Authority now seeks to declare its intent to reimburse the Expenditures <br />pursuant to Treas. Reg. § 1.150-2 and Indiana Code 5-1-14-6(c); <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY, AS FOLLOWS: <br />SECTION 1. The Authority hereby declares its intent to issue the Bonds pursuant to <br />Indiana Code 36-7-14.5 for the purpose of financing all or any portion of the costs of the Projects <br />and related expenses and to reimburse the Expenditures, if any, from proceeds of the sale of such <br />Bonds. <br />SECTION 2. The Authority hereby approves the proposed form of Lease between the <br />Authority and the Commission in the form presented at this public meeting. The President and <br />Secretary of the Authority are hereby authorized to execute the Lease on behalf of the Authority <br />following approval of the Lease by the Common Council of the City, with such changes thereto as <br />such officers shall approve, such approval to be conclusively evidenced by their execution thereof. <br />SECTION 3. This Resolution shall take effect, and be in full force and effect from and <br />after its passage and approval by the Authority, in conformance with applicable law. <br />ADOPTED at a meeting of the South Bend Redevelopment Authority held on July 22, <br />2026, in the City Hall Council Chambers, 3rd Floor, 215 S. Dr. Martin Luther King, Jr., Boulevard, <br />South Bend, Indiana. <br />SOUTH BEND REDEVELOPMENT AUT ORITY <br />l'residc t <br />ATTEST: <br />1 <br />cc etary <br />DNIS 53442640 <br />