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South Bend Redevelopment Authority <br />• Special Meeting - December 17, 1990 <br />3. NEW BUSINESS (Cont.) <br />c. continued... <br />Mrs. Kolata noted that the tax exempt bond amount is <br />$2,355,000. The maximum interest rate is 8%. The <br />improvements to be funded through the tax exempt bond <br />are: the extension of Mayflower Road, the engineering <br />work for realigning Old Cleveland Road, improvements to <br />Viridian Drive, construction of the Brick/Cleveland <br />intersection, and miscellaneous related costs. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski <br />and unanimously carried, the Authority approved <br />Resolution No. 27 authorizing the issuance of the South <br />Bend Redevelopment Authority Tax-Exempt Lease Rental <br />Revenue Bonds (Airport Economic Development Area Public <br />Improvement Project). <br />4. Next Meeting <br />Mrs. Kolata noted that an Authority meeting was needed later <br />in the week to amend the Lease to provide for two lease <br />• payments instead of one and to approve the preliminary <br />Official Statements for the two bond issues. That meeting <br />will be held on December 21, 1990 at 2:00 p.m. <br />5. Adjournment <br />There being no further business to come before the <br />Redevelopment Authority, Mr. Fewell made a motion that the <br />meeting be adjourned. Mr. Wroblewski seconded the motion and <br />the meeting was adjourned at 11:15 a.m. <br />if <br />c <br />o ep Wroblewski, President A E. Kolata, Director <br /> <br />-6- <br />