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South Bend <br />Regular Me <br />6. NEW BU <br />a. Co. <br />elopment Commission <br />- August 23, 1985 <br />( font . ) <br />Mr. Treptow clarified that the principal <br />amoimts of the bonds mature from the years <br />1990 through 2003. There is a provision in <br />the bond resolution that is being considered <br />that would allow the bonds maturing in 1997 <br />and thereafter to be subject for prepayment as <br />ear .y as 1996 or any interest payment date <br />thereafter. There will be no penalty for <br />ear y payment of the bonds should revenues be <br />sufficient to allow that. About 70% of the <br />bonds issued are subject to prepayment. <br />Ms. Schwartz asked that some minor technical <br />ameridments to Resolution No. 747 be accepted <br />by the Commission. A clarification and <br />designation of registrar and paying agent as <br />American Fletcher National Bank in <br />Indianapolis, having bonds being dated the <br />first day of the month of which they are to be <br />delivered, and clarification of provisions in <br />Section 6 are the requested amendments. <br />Upop a motion made by Ms. Auburn, seconded by <br />Mr. Combs and unanimously carried, the <br />Conpission approved Resolution No. 747 <br />authorizing the issuance of tax increment <br />revEmue bonds for the purpose of raising money <br />for property acquisition and redevelopment in <br />the South Bend Central Development Area. <br />b. Fil�ng of Resolution No. 748, a resolution of <br />the South Bend RedevelMnent Commission <br />appropriating Four Million Two Hundred <br />Thousand Dollars ($4,200,000) for acquisition <br />and redevelopment in the South Bend Central <br />Development Area and related costs, and <br />authorizing publication of notice of proposed <br />additional appropHation and setting a public <br />hearing on the proposed additional <br />appropriation. <br />Ms. Schwartz stated that what is being <br />requested is that the Redevelopment Commission <br />file this supplemental appropriation <br />resolution which is a technical requirement <br />when planning to issue bonds during the fiscal <br />year for which a budget has previously been <br />ado ted. Resolution No. 748 basically finds <br />-12- <br />RESOLUTION NO. 747 AUTHORIZING_ <br />THE ISSUANCE (F TAX INCREMENT <br />REVENUE BONDS FOR THE PURPOSE <br />OF RAISING MONEY FOR PROPERTY <br />ACQUISITION AND REDEVELOPMENT <br />IN THE SOUTH BEND CEN'T'RAL <br />DEVELOPMENT AREA WAS APPROVED <br />