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<br />South Bend Redevelopment Authority <br />Special Meeting - November 1, 1991 <br />3. NEW BUSINESS (Cont.) <br />b. continued... <br />later than March 1, 1997. It has a maximum rate of <br />interest of 8s and a maximum underwriter's discount of <br />3/4%. The bonds may be redeemed early without penalty. <br />A preliminary Official Statement is an attachment to t-he <br />resolution. Both the Trust Agreement and the Official <br />Statement are being approved by the Authority in <br />substantially the form presented today. The bonds will <br />be sold at a private, negotiated sale at a price of <br />99.25°s of par plus accrued interest. The Trust Agreement <br />is with Norwest Bank, as it was for. the previous <br />refunding. <br />Mrs. Kolata noted that the prime rate has decreased since <br />we first looked at refinancing and we could realize <br />greater savings that we first anticipated. The pricing <br />of the bonds is scheduled for November 12. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski <br />and unanimously carried, the Authority approved <br />Resolution No. 44 authorizing the issuance of the South <br />Bend Redevelopment Authority Taxable Lease Rental Revenue <br />Bonds (Coveleski Stadium Refunding) and other related <br />matters. <br />4. APPROVAL OF CLAIMS <br />1990 SBCDA Public Improvement Project <br />Michiana Lock & Key $ 57.98 <br />South Bend Water Works 45.20 <br />Total 1991 SBCDA Public Improvement Project $ 103.18 <br />1991 Airport Taxable Bond <br />John & Betty Pendl and John Lenick $ 1,489.50 <br />Rita Freel 225.00 <br />Total 1991 Airport Taxable Bond $ 1,714.50 <br />1991 Airport Tax Exempt Bond <br />Baker & Daniels $ 1.196.07 <br />. Total 1991 Airport Tax Exempt Bond $ 1,196.07 <br />_3_ <br />