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South Bend Redevelopment Commission <br />Regular Meeting — February 21, 2003 <br />6. NEW BUSINESS (CONT.) <br />F. Airport Economic Development Area <br />(3) continued... <br />Mr. Rompola responded that interest rates <br />have been very good; however, there is <br />difficulty in any prediction. The shorter <br />term rates have been consistently in the 2's, <br />and the fifteen to twenty year rates in the <br />high 3 %, low 4 %. The Iraq situation may <br />make the rates spike for a few days and it is <br />assumed that the rates would come back <br />down fairly quickly should the early phases <br />of the war be successful. The timing is such <br />that the projected schedule for selling the <br />bonds would be late March. It a war occurs, <br />delaying the bond sale may be advised solely <br />because of being caught in the market where <br />IL the rates were going up and down due to the <br />Middle East situation. <br />Upon a motion by Mr. Faccenda, seconded <br />COMMISSION APPROVED RESOLUTION No. 1960, <br />by Mr. Kahn and unanimously carried, the <br />A PRELIMINARY BOND RESOLUTION AUTHORIZING <br />Commission approved Resolution No. 1960, <br />a preliminary bond resolution authorizing <br />the issuance of the South Bend <br />THE ISSUANCE OF THE SOUTH BEND <br />REDEVELOPMENT DISTRICT TAX INCREMENT <br />REVENUE BONDS. <br />Redevelopment District Tax Increment <br />Revenue Bonds. <br />t G. South Bend Medical Services District <br />There was no business in the South Bend <br />Medical Services District. <br />H. West Washington - Chapin Development Area <br />There was no business in the West Washington - <br />Chapin Development Area. <br />19 <br />THERE WAS NO BUSINESS IN THE SOUTH BEND <br />MEDICAL SERVICES DISTRICT. <br />THERE WAS NO BUSINESS IN THE WEST <br />WASHINGTON -CHAPIN DEVELOPMENT AREA. <br />