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� t <br />South Bend Redevelopment Commission <br />Regular Meeting - July 2, 1998 <br />6. NEW BUSINESS (CONT.) <br />b. continued.... <br />received from the Build Indiana Fund to <br />be used for redemption of bonds <br />associated with the Hall of Fame project. <br />The Redevelopment Authority, which is <br />the issuer of the bonds, will send a letter <br />to the bond trustee authorizing the <br />redemption of the bonds. The $500,000 <br />principal is expected to be redeemed by <br />the end of the month. <br />Mr. Hunt opened the public hearing for <br />anyone who wished to speak regarding <br />Resolution No. 1614. There was no one <br />who wished to speak regarding <br />Resolution No. 1614. Mr. Hunt closed <br />the public hearing for whatever action the <br />Commission wished to take. <br />Ms. Schwartz asked if TIF funds are <br />being used, whenever possible, when they <br />come available to redeem the bonds to <br />reduce the principle owed on the bonds. <br />Mrs. Kolata stated that there have been <br />sufficient surplus to make regular lease <br />payments on the bonds, but there haven't <br />been funds to redeem a portion of the <br />bonds until now. <br />Upon a motion by Ms. Schwartz, <br />seconded by Mr. Blake and unanimously <br />carried, the Commission adopted <br />Resolution No. 1614, a supplemental <br />appropriation resolution of the City of <br />South Bend Redevelopment Commission <br />(South Bend Central Development Area). <br />Mr. Faccenda abstained. <br />H:\WPDATA\COMMSN\070298.MfN <br />-5- <br />COMMISSION ADOPTED RESOLUTION NO. 1614, A <br />SUPPLEMENTAL APPROPRIATION RESOLUTION OF <br />THE CITY OF SOUTH BEND REDEVELOPMENT <br />COMMISSION (SOUTH BEND CENTRAL <br />DEVELOPMENT AREA) <br />