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South Bend Redevelopment Commission <br /> Regular Meeting—November 8, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> C. South Bend Central Development Area <br /> (3) continued... <br /> building, but no one interested in permanent <br /> use. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION ACCEPTED THE PROPOSAL FROM <br /> Ms. King and unanimously carried, the AMR ROOFING FOR THE SCOPE OF SERVICES <br /> Commission accepted the proposal from AND FEE PROPOSED <br /> AMR Roofing for the scope of services and <br /> fee proposed. <br /> (4) Resolution No. 2955 a Supplemental Bond <br /> Resolution supplementing and amending <br /> Resolution No. 2012, adopted on October <br /> 17, 2003, all for the purpose of authorizing <br /> the modification of certain contractual <br /> rights, the execution and delivery of its <br /> City of South Bend, Indiana, <br /> Redevelopment District Amended Tax <br /> Increment Revenue Bonds, Series 2003 <br /> (South Bend Central Development Area), <br /> and regarding certain related matters. <br /> Mr. Inks noted that this resolution authorizes <br /> the refunding of a bond that was issued in <br /> 2003. There's a better interest rate available <br /> today and savings to be had on the current <br /> bond. <br /> Mr. Rompola explained both the South Bend <br /> Central and Airport Economic Development <br /> Area bonds. He noted that both bonds, when <br /> issued, were issued to the Indiana Bond Bank <br /> and then the Indiana Bond Bank in turn sold <br /> one large bond issue to account for those two <br /> smaller bond issues. The reason that was <br /> done some years ago was to get a better <br /> interest rate for the city. Therefore, what is <br /> 11 <br />