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..*...+ +..- -a SOUTH BEND REDEVELOPMENT AUTHORITY SPECIAL MEETING December 21, 1990 1200 County-City Building 2:00 p.m. 227 W. Jefferson Boulevard Presiding: Joseph Wroblewski South Bend, Indiana 46601 President The December 21, 1990, Special Meeting of the Redevelopment Authority was called to order at 2:04 p.m. by its President, Joseph Wroblewski. There was a quorum .present. 1. Roll Call Members Present: Mr. Joseph Wroblewski, President Mr. Don Fewell, Vice President Legal Counsel: Mr. Richard A. Nussbaum, II Redevelopment Staff: Mrs. Ann Kolata, Director Mrs. Cheryl Phipps, Office Manager 2. New Business a. Authority approval requested for Resolution No. 28 • adopting a Restated and Amended Lease between the Redevelopment Authority and the Redevelopment Commission for the Airport Economic Development Area Public Improvement Proiect. Mrs. Kolata noted that since the bond issue has been divided into a taxable bond and a tax exempt bond, the Lease needs to be revised to reflect wording to that effect and to show the payment schedule for both bonds. Mrs. Kolata noted that the Lease states that if we are not paying on one bond for a reason such as having paid one off early, we would still be obligated to make lease payments on the other one. Payment dates and amounts for the tax exempt bond will be semi-annual payments of $95,500 beginning when the project is complete or January 28, 1994. The payment dates and amounts for the taxable bond will be semi-annual payments of $232,000 beginning July 28, 1993 or when the project is completed. The Lease also stipulates that we will do nothing to jeopardize the tax exempt status of the bonds. Mrs. Kolata noted that we expect one other revision to the Lease when the bond is sold and final numbers are known. • -1-