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South Bend Redevelopment Authority <br />Special Meeting - January 29, 1991 <br />3. NEW BUSINESS <br />a. continued... <br />The lease/rental amounts had been set at a high rate in <br />the Lease. As a result of the sale, it is now necessary <br />to approve the execution of an Addendum to the Lease, <br />reflecting the actual lease payment schedules. <br />Mrs. Kolata also noted that we expect to close on the <br />taxable bond issue on February 7th. No closing date has <br />been set for the tax exempt bond issue. Based on IRS <br />rules, it will probably be approximately one month after <br />the closing for the taxable bond. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski <br />and unanimously carried, the Authority approved <br />Resolution No. 32 reducing the annual rentals on the <br />Lease for the Airport Economic Development Area Public <br />Improvement Project, approving the execution of an <br />Addendum to the Lease, approving the selection of a <br />successful bidder and the terms of the bonds, and <br />regarding other related matters. <br />• b. Authority approval requested for Resolution No. 33 <br />establishing and adopting a procedure for the purchase of <br />property needed or considered useful in connection with <br />any redevelopment project or purpose of the South Bend <br />Redevelopment Commission. <br />Mrs. Kolata asked that this item be tabled until the next <br />meeting of the Redevelopment Authority. There was no <br />objection and item 3.b. was tabled. <br />4. 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 11:24 a.m. <br />•, i ~ ,J C <br />~,(J ~,J ` 1,~, <br />J e Wroblewski, President Ann E. Kolata, Director <br />• <br />-2- <br />