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South Bend ] <br />Rescheduled <br />6. NEW BUS: <br />e. con <br />ECO <br />IM <br />IM <br />Mrs <br />Mrs <br />C <br />Mr. <br />in <br />the <br />f. <br />mint Car[u fission <br />Meeting - Decmmber 21, 1990 <br />(Cont.) <br />Kolata explained that the Resolution <br />►lishes a fund )yawn as the "Airport <br />mic Development Area Taxable Public <br />:vement Project Principal and <br />Est Account" and other accounts <br />: may be necessary to serve the <br />It also mandates that, if there <br />tot sufficient funds to make the <br />payments for the next calendar <br />the Comuission must levy a tax <br />.cient to make the lease payments. <br />is a back -up position for the bond <br />:rs and is not expected to be <br />Kolata noted that the reason for <br />f two bonds is that there are some <br />cts that can not be paid for from <br />xempt funds. If we were to do one <br />it would have to be a taxable bond <br />: would be at a higher interest <br />There are enough parts of the <br />ct that can be paid for from tax <br />►t funds to make the interest savings <br />than the cost of doing a second <br />a motion by Mr. Combs, seconded by <br />bnoho and unanimously carried, the <br />.ssion approved Resolution No. 967 <br />dishing certain funds and accounts <br />Innection with the Lease dated as of <br />,t 1, 1990 between the South Bend <br />,elcpment Authority and the South <br />RedevelcpTent Ccamnission relating to <br />drport Economic Development Area <br />.c Improvement Project (Taxable <br />►vements) and other related matters. <br />-5- <br />•• • ■ ■' • • <br />• • . rr «a� -�w r <br />• r• ■• •� •• • r • ■ i� <br />■ r I Z VOITA D ID A 0 114,111 WIN <br />NO • • r - • i r • i �' <br />� air r• � -ti <br />