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,,.. _> <br />South Bend Redevelopment Authority <br />• Special Meeting - July 29, 1988 <br />3. Continued... <br />Mrs. Kolata noted that Resolution No. ll approves the execution of the <br />Addendtm to Lease, reducing the annual rental payments on the Lease for the <br />Parking Facility, and ratifying the selection of bidder ay~d the terms of the <br />Bond. The successful bidder for the Bond was Bank One in the amount of <br />$4,518,270, and the Bonds bearing the. Net Interest Figure of 7.7868%. The <br />annual rental payment is reduced to $463,000 per year, payable in <br />semi-annual installments of $231,500. <br />The Resolution contained a typographical error indicating semi-annual <br />payments of $237,500. The correction will be made to the documents. <br />Upon a motion by Mr. Wroblewski, seconded by Mr. Davey and unanimously <br />carried, the Authority adopted Resolution No. 11 reducing the annual rental <br />on the Lease for the St. Joseph/Wayne Parking Facility, approving the <br />execution of an Addendum to the Lease, and ratifying the selection of a <br />successful bidder and the terms of the Bonds. <br />4. Execution of Addendum to Lease between the South Bend Redevelopment <br />Authority and the South Bend Redevelopment Commission dated as of June 1, <br />1988 (Coveleski Stadium Project). <br />• Mrs. Kolata noted that since the $500,000 projected lease payment did not <br />change, there is no Addendum to the Lease. Resolution No. 12 ratifies and <br />approves the. award of the Bonds to Bank One, and authorizes the Authority to <br />deliver the Bonds to the Trustee when-they are executed. <br />Upon a motion by Mr. Davey, seconded by Mr. Wroblewski and unanimously <br />carried, the Authority adopted Resolution No. 12 ratifying the selection of <br />Bank One as the successful bidder for the Coveleski Stadium Lease Rental <br />Revenue Bonds. <br />5. Adjournment <br />There being no further business to cane before the Authority, Mr. Wroblewski <br />made a motion that the meeting be adjourned. Mr. Davey seconded the motion <br />and the meeting was adjourned at 8:30 a.m. <br />' ~J l~~f r <br />~ ~~ G~~" <br />Thomas J. Varga, Jr., President Ann Kolata, Deputy Executive Director <br />