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South Bend Redevelopment Commission <br />Regular Meeting - September 6, 1996 <br />6. NEW BUSINESS (Cont.) <br />x. continued... <br />financial institution that offered to provide <br />a substitute letter of credit under such <br />terms and conditions that would realize a <br />savings to the Commission that totals <br />approximately $90,000 annually <br />depending upon the interest rate. <br />Upon a motion by Mr. Hojnacki, <br />seconded by Mr. Donoho and <br />unanimously carried, the Commission <br />adopted Resolution No. 1459 authorizing <br />such actions as may be necessary for the <br />substitution and replacement of credit <br />facility for the South Bend <br />Redevelopment Authority Variable Rate <br />Demand Lease Rental Revenue Bonds of <br />1994. (Hall of Fame) <br />7. PROGRESS REPORTS <br />8. NEXT COMMISSION MEETING <br />The next Regular Meeting of the <br />Redevelopment Commission is scheduled for <br />October 4, 1996 at 10:00 a.m. <br />9. ADJOURNMENT <br />COMMISSION ADOPTED RESOLUTION NO. 1459 <br />AUTHORIZING SUCH ACTIONS AS MAY BE <br />NECESSARY FOR THE SUBSTITUTION AND <br />REPLACEMENT OF CREDIT FACILITY FOR THE <br />SOUTH BEND REDEVELOPMENT AUTHORITY <br />VARIABLE RATE DEMAND LEASE RENTAL <br />REVENUE BONDS OF 1994. (HALL OF FAME) <br />NEXT COMMISSION MEETING <br />There being no further business to come before ADJOURNMENT <br />the Redevelopment Commission, Mr. Hojnacki <br />made a motion that the meeting be adjourned. <br />Mr. Donoho seconded the the motion and the <br />meet' was adjourned at 11:05 a.m. <br />� N - (�J, <br />Paula N. Auburn, President <br />-28- <br />Ann E. Kolata, Director <br />