Laserfiche WebLink
SOUTH BEND REDEVELOPMENT AUTHORITY <br />RECaULAR MEETINCa <br />June 17, 1993 1308 County-City Building <br />4:30 p.m. 227 W. Jefferson Boulevard <br />Presiding: Joseph Wroblewski South Bend, Indiana 46601 <br />President <br />The June 17, 1993 Regular Meeting of the Redevelopment Authority was called to order at 4:45 <br />p.m. by its President, Joseph Wroblewski. There was a quorum present. <br />1. ROLL CALL <br />Members Present: <br />Mr. Joseph Wroblewski, President <br />Mr. Donald Fewell, Secretary <br />Members Absent: <br />Redevelopment Staff: <br />Legal Counsel: <br />2. APPROVAL OF MINUTES <br />Mr. Andre Gammage, Vice-President <br />Mrs. Ann Kolata, Director <br />Mrs. Cheryl Phipps, Office Manager <br />Ms. Jenny Pitts-Manier <br />a. Approval of Minutes of the Regular 1Vleeting~of Thursday. June 3. 1993. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously carried, <br />the Authority approved the Minutes of the Regular Meeting of Thursday, June 3, 1993. <br />3. NEW BUSINESS <br />a. Authority approval requested for Resolution No 76 indicative the Authoritv9s intent to <br />issue Redevelopment Authority Taxable Lease Rental Revenue Bonds and that certaui <br />preliminary costs be reimbursed from the proceeds of said bonds. <br />Mrs. Kolata noted that the $4,200,000 Airport Taxable Bond was sold in 1990 at an <br />interest rate of 9.5 % . Interest rates have gone down enough since then that we believe <br />we can refinance it at a savings of about 2 % or several hundred thousand dollars. Bond <br />counsel and our fmancial consultant agree that we should refmance through a negotiated <br />sale with the previous purchaser of the bonds, City Securities. We would need to <br />schedule an Authority meeting on June 29 to approve the Official Statement. The sale <br />would then be held on July 6 and on July 8 the Authority would need to meet again to <br />• <br />