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South Bend <br />Regular Mei <br />6. NEW BU <br />e. Co: <br />elopment Commission <br />- October 25, 1985 <br />(Cont.) <br />Ms. Schwartz explained that the Commission was <br />provided with a preliminary and tentative <br />Official Statement as prepared by Springsted, <br />Incorporated, for the tax incremental finance <br />bond issue. This Official Statement outlines <br />in very technical terms all of the various <br />aspects of this proposed issue. The staff is <br />asking the Commission's acceptance of this <br />pre iminary Official Statement with the <br />ability of the Redeveloment Commission <br />President, bond counsel and the City <br />Attorney's office to make any necessary final <br />technical changes to put the statement in a <br />form that meets all the legal requirements. <br />This will be the document that will be made <br />available to the potential bidders on the tax <br />incremental bond. The official notice of the <br />intent to sell the bonds will be published <br />Friday, November 1 and November 8, 1985. The <br />final acceptance of the bids is tentatively <br />set for November 19, 1985, at 12:00 noon. <br />Upon a motion made by Mr. Combs, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission approved the official statement and <br />authorized the President, together with bond <br />coLuisel and the City Attorney's office, to <br />mak any necessary technical changes. <br />a. L. Xeen Bui <br />Mr. Rick Pitts stated that the staff has <br />contacted the two other original bidders that <br />submitted proposals for the L. Keen building. <br />Neither bidder wishes to proceed under the <br />terms of their initial proposal. The staff <br />recommends that the property be readvertised <br />for disposition. The staff expects that at <br />least one of the original bidders will be <br />rebidding with a modification of their <br />on final proposal. A schedule for sale of the <br />bui ding will be prepared and provided to the <br />Co ssion. <br />� <br />i a motion made by Mr. Combs, seconded by <br />Donoho and unanimously carried, the <br />COMMISSION APPROVED THE <br />OFFICIAL STATEMENT AND <br />AUTHORIZED THE PRESIDENT, <br />TOGETHER WITH BOND COUNSEL <br />AND THE CITY ATTORNEY'S <br />OFFICE, TO MAKE ANY NECESSARY <br />TECHNICAL CHANGES,)' <br />..S .O. <br />