RM 01-16-98 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting - January 16, 1998 6. NEW BUSINESS (CONT.) L continued.... and a number of other documents related to the bond issue, because it is the issuer of the bonds. The Redevelopment Commission indirectly pays for the bond by making the lease payments to the Redevelopment Authority. Ms. Schwartz asked when the first lease payment is due. Mrs. Kolata responded that there will be capitalized interest in the bond structure and the first lease payment is due in February 2000 and the project is anticipated to be completed by the summer of 1999. Upon a motion by Ms. Schwartz, seconded COMMISSION ADOPTED RESOLUTION NO. 1572 by Mr. Donoho and unanimously carried, ESTABLISHING CERTAIN FUNDS AND ACCOUNTS the Commission adopted Resolution IN CONNECTION WITH THE AMENDED AND No. 1572 establishing certain funds and RESTATED LEASE DATED AS OF MAY 1, 1997, AS AMENDED BY AN ADDENDUM TO LEASE DATED accounts in connection with the amended AS OF JANUARY 15, 1998, BETWEEN THE SOUTH and restated lease dated as of May 1, 1997, BEND REDEVELOPMENT COMMISSION AND THE as amended by an addendum to lease dated SOUTH BEND REDEVELOPMENT AUTHORITY as of January 15, 1998, between the South RELATING TO THE PALAIS ROYALE/MORRIS CIVIC Bend Redevelopment Commission and the CENTER PROJECT AND OTHER RELATED MATTERS South Bend Redevelopment Authority relating to the Palais Royale/Morris Civic Center project and other related matters. g. Commission approval requested for Assignment of Lease with American Drug Stores, Inc. to American Partners, L.P., an Indiana limited partnership. Mrs. Kolata stated that a letter was received from American Partners, L.P., a company representing Osco Drug Store. F:\H0ME\CPHIPPS \WPDATA \COMMSN\0I 1698.MIN -13-