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-I <br />,South Bend Redevelopment Commission <br />egular Meeting - November 20, 1992 <br />5. OLD BUSINESS (Cont.) <br />a. continued... <br />Mrs. Kolata noted that she has received <br />the proof of publication from the South <br />Bend Tribune that the Notice of Public <br />Hearing was published in the Tribune on <br />November 6, 1992. We have not received <br />the affidavit from the Tri- County News, <br />but have a copy of the November 6 issue <br />of that paper, containing the Notice of <br />Public Hearing. <br />Ms. Auburn asked if there was any <br />objection to accepting those items into <br />the record. There was no objection and <br />the items were so entered. <br />Mrs. Kolata noted that the Public Hearing <br />is being held to consider the <br />appropriation of $2,900,000 of tax <br />increment revenue bonds, the proceeds of <br />which would be used to fund expenses <br />related to the College Football Hall of <br />Fame project in downtown South Bend. We <br />originally intended to consider this <br />appropriation on October 16, but the <br />hearing was postponed because of the <br />remonstrance that was filed. There was a <br />remonstrance hearing on November 5 at <br />Century Center. We are now ready to <br />consider the appropriation. <br />The funds will be used for preliminary <br />expenses including engineering, <br />architectural, development of display <br />materials, etc. We intend to redeem the <br />bond next summer when the permanent <br />financing for the Hall of Fame is in <br />place. However, the bond is structured <br />so that we could pay off this bond from <br />tax increment, if necessary. <br />Mrs. Kolata noted that Resolution <br />No. 1105 states that the appropriation is <br />contingent upon receiving approval from <br />the State Tax Board. <br />MIC <br />