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H..J. UMBAUGH ~ ASSOCIATES <br />eczfCficd ~u~ltc o4ecounEanEs <br />~ SUITE 100, 9100 MERIDIAN SQUARE PLYMOUTH OFFICE <br />MYRON h. FRASIER. C. P. A. 12191 935-5178 <br />ROGER L.UMBAUGH.C.P.A. 20.EAST 91=+T STREET <br />~~ EDWARD W. GUNTZ. C. P. A. P. O. BOX 40458 <br />GERALDG.MALONE.C.P.A. INDIANAPOLIS, INDIANA 46240-045 8 <br />CHARLES A. DALTON. C. P. A. TEL'cPHONE 13171 844-7288 <br />OAVIO C. FREDERICK, C. P. A. <br />TELECOPIER 13171 848'3604 <br />riERSCtIELI J. UMBAUGii. C. P. A. <br />11915-1 9 8 91 <br />December 18, 1990 <br />South Bend Redevelopment Authority <br />City of South Bend <br />1200 County-City Building <br />South Bend, Indiana 46601 <br />Re: $4,200,000 TAXABLE Lease Rental Revenue Bonds <br />Members of the Redevelopment Authority: <br />_ In connection with the issuance of $4,200,000 principal amount of Taxable Lease <br />Rental Revenue Bonds, we have, at your request, compiled this special purpose. <br />report including the following schedules: <br />Pa e s <br />2_3 General Comments <br />4 Summary of Estimated Project Costs and Funding <br />5 Schedule of Amortization of $4,200,000 Proposed Taxable <br />Lease Rental Bonds <br />6 Maximum Zease Payment Schedule <br />7 Analysis of Debt Service and Estimated Tax Increment <br />g Bond Year Schedule <br />Zn the preparation of these schedules, assumptions were made. as noted regarding <br />certain future events. As 'is the case with such assumptions regarding future <br />events and transactions, some or all may not occur as expected and the resulting <br />differences could be material. We have not examined the underlying assumptions <br />nor have we audited the historical data. Consequently, we express no opinion <br />thereon nor do we have a responsibility to prepare subsequent reports. <br />~ ,, <br />, ~ ..~ a-, <br />