RM 12-18-92 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting - December 18, 1992 6. NEW BUSINESS (Cont.) j. Commission approval requested for Resolution No. 1123 authorizing reimbursement to the City of South Bend for expenditures made within the South Bend Central Development Area. Mrs. Kolata noted that Resolution No. 1123 is similar to three previous resolutions that reimburse the City for expenses related to the Hall of Fame project. There are five separate claims, totalling $27,094.63. Upon a motion by Mr. Faccenda, seconded by Mr. Doncho and unanimously carried, the Commission approved Resolution No. 1123 authorizing reimbursement to the City of South Bend for expenditures made within the South Bend Central Development Area. k. Commission approval requested for Resolution No. 1124 amending Resolution No. 1118 entitled "A Resolution of the South Bend Redevelopment Commission authorizing the issuance of bonds on parity with the City of South Bend Redevelopment District Tax Increment Revenue Bonds of 1985, the City of South Bend Redevelopment District Tax Increment Revenue Bonds of 1986 and the City of South Bend Redevelopment District Tax Increment Revenue Bonds of 1988 for the purpose of raising money for redevelopment in the South Bend Central Allocation Area." Mr. Rompola explained that Resolution No. 1123 amends the final bond resolution adopted on December 4 by making several minor changes: 1) alters the principal maturities of the bonds so that every principal maturity exceeds $100,000; 2) changes all references to bonds being sold in 1992 to say 1993; and, 3) authorizes the bond purchase agreement to be signed by either the President or vice President of the Commission. The most significant change is the addition of a -10- COMMISSION APPROVED RESOLUTION NO. 1123 AUTHORIZING REIMBURSEMENT TO THE CITY OF SOUTH BEND FOR EXPENDITURES MADE WITHIN THE SOUTH BEND CENTRAL DEVELOPMENT AREA