RM 08-07-98 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting - August 7, 1998 6. NEW BUSINESS (CONT.) c. continued.... Lease Dated as of November 1, 1993, Between the South Bend Redevelopment Commission and the South Bend Redevelopment Authority Relating to the Century Center Project and Other Related Matters." Mrs. Kolata stated that the Commission is required by August 1 of each year to make sure there are sufficient funds on hand for the next three Century Center bond payments. After reviewing the funds related to the Century Center bond, there was approximately $18,000 in the Operation and Reserve Fund. Mrs. Kolata contacted the Bond Counsel to request use of the $18,000 towards the three- payment test. The Bond Counsel informed Mrs. Kolata that the $18,000 could be used towards the three - payment test if the funds in the Century Center Operation and Reserve Fund were included in the resolution establishing the funds for the bond issue. Upon a motion by Mr. Blake, seconded by Mr. Donoho and unanimously carried, the Commission adopted Resolution No. 1627 of the South Bend Redevelopment Commission Amending Resolution No. 1258 entitled "Resolution of the South Bend Redevelopment Commission Establishing Certain Funds and Accounts in Connection with the Lease Dated as of November 1, 1993, Between the South Bend Redevelopment Commission and the South Bend Redevelopment Authority Relating to HAWPDATATOMMSM080798.MIN -15- COMMISSION ADOPTED RESOLUTION NO. 1627 OF THE SOUTH BEND REDEVELOPMENT COMMISSION AMENDING RESOLUTION NO. 1258 ENTITLED "RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ESTABLISHING CERTAIN FUNDS AND ACCOUNTS IN CONNECTION WITH THE LEASE DATED AS OF NOVEMBER 1, 1993, BETWEEN THE SOUTH BEND REDEVELOPMENT COMMISSION AND THE SOUTH BEND REDEVELOPMENT AUTHORITY RELATING TO THE CENTURY CENTER PROJECT AND OTHER RELATED MATTERS"