RM 12-20-85 - Laserfiche WebLink

Home Browse Search

South B, Resched 6. NEW C. W end Redevelopment Commission uled Regular Meeting - December 20, 1985 BUSINESS (Cont.) approval requested for Resolution Comnission No. 756 amending Section 5 of Resolution No. 747 relating to the Tax Incremental Financinc Bond. Hunt explained that Resolution No. 756 Mr. deletes the old Section 5 of Resolution No. 747 relating to the Tax Incremental Fiinancinc Bond and will add new Sections 5 and 21. Ms. Scwhartz noted that the change concerns cl ification of the use of certain accounts established in connection with the Tax Incremental Bond issue and relationships with the bond insurance firm. The change was drafted by and requested by bond counsel to ad ess certain tax exemption and security considerations, and has been approved by both Merrill Lynch and AMBAC Indemnity Corp. Upo a motion made by Mr. Donoho, seconded by Ms. Auburn and unanimously carried, the Cormission approved Resolution No. 756 amending Section 5 of and adding Section 21 t Res lution No. 747. Public hearing on the South Bend Central Development Area with respect to Resolution No. 751 and approval of Commission Resolution No. 757 ratifying and confirming Resolution No. 751 redeclaring the South Bend Central Development Area to be blighted and amending the Development Plan. Kolata entered the following items into Mrs. the record: 1. An original of the Notice of Public Heari he South Bend Central Development Area. 2. An Affidavit of Carol Smith, Classified Hager of The South Bend Tribune, that N f Public Hearing was published in the da newspaper on December 6, 1985. 3. Affidavit of Steve Kollar, owner of the i- County News, that Notice of Public He s published in that weekly newspaper on December 6, 1985. -3- ng of otice ily aring COMMISSION APPROVED RESOLUTION NO. 756 AMENDING SECTION 5 OF AND ADDING SECTION 21 TO RESOLUTION NO. 747