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South Bend edevelcpment Commdssion <br />Special Meeting - August 31, 1990 <br />2. NEW MUSTINESS (cont.) <br />0, <br />b. continued... <br />Kolata explained that a negotiated <br />seemed more appropriate for this <br />since there is not much market for a <br />that can be redeemed without penalty <br />30 days notice. Raffensperrger <br />s has several buyers who are <br />ested, but has not completed <br />Mr. Piasecki asked how an interest rate <br />is ived at without competition. Mrs. <br />Kol to responded that it becarnes a series <br />of negotiations. Current bonds are <br />sel ing at a rate of about 7.5 %. We have <br />set a cap of 8 %. Raffensperger Hughes <br />wil L be the negotiator between the end <br />buy Br and the Commission. <br />Upo a motion by Mr. Donoho, seconded by <br />Mr. Piasecki and unanimously carried, the <br />com 'ssion approved Resolution No. 958, a <br />Fin Ll Bond Resolution of the City of <br />Sou Bend Redevelopment Commission <br />aut lorizing the issuance of the City of <br />Sou Bend Redevelopment District Tax <br />Inc'ement Revenue Bonds of 1990 for the <br />of raising money for property <br />acq Lisition and redevelopment in the <br />AirPort Economic Development Area <br />All tion Area No. 1.. <br />Mrs. Ko: <br />complete <br />bond. i <br />SeptembE <br />will be. <br />R •� <br />The next <br />Commissi <br />1990 at <br />eta noted that the next step is to <br />negotiations for the sale of this <br />hope to be able to report at the <br />14th meeting what the interest rate <br />Regular Meeting of the Redevelopment <br />n is scheduled for September 14, <br />0:00 a.m. <br />cm <br />COMMISSION APPROVED RESOLUTION <br />NO. 958, A FINAL BOND RESOLUTION <br />OF THE CITY OF SOUTH BEND <br />REDEVEL(JFI= COMMISSION <br />AUTHORIZING THE ISSUANCE OF THE <br />CITY OF SOUTH BEND REDEVELOPMENT <br />DISTRICT TAX INCR ED,= REVENUE <br />BONDS OF 1990 FOR THE PURPOSE OF <br />RAISING M3NEY FOR PROPERTY <br />ACQUISITION AND REDEVELOPMENT IN <br />THE AIRPORT ECONOMIC DEVELOPMENT <br />AREA ALLOCATION AREA NO. 1 <br />NEXT CXMUSSION MEETING <br />