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• South Bend Redevelopment Authority <br />Regular Meeting -June 17, 1993 <br />3, NEW BUSINESS (font<) <br />a. continued... <br />approve. the_fmal documents. _Resolution No. 76 indicates intent to refinance, but does <br />not commit to the refinancing. If interest rtes are not favorable, we could stop the <br />process. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously carried, <br />the Authority approved Resolution No. '76 indicating the Authority's intent to issue <br />Redevelopment Authority Taxable Lease Rental Revenue Bonds and that certain <br />preliminary costs be reimbursed from the proceeds of said bonds. <br />b. Authority approval reauested for professional services with Baker & Daniels related to <br />Taxable Airport Economic Development Area Public Improvement Project Refinancing. <br />Mrs. Kolata noted that Baker ~ Daniels has proposed to serve as bond counsel for the <br />refinancing at a cost of $42,500. They have agreed to proceed at risk, so that if we <br />don't go through with the refinancing, we are only responsible to pay them their <br />reimbursable expenses. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously carried, <br />the Authority approved the proposal from Baker & Daniels for professional services <br />related to the Taxable Airport Economic Development Area Public Improvement Project <br />Refinancing. <br />c. Authority apvroval requested for professional services with H 7 Umbau~h & Associates <br />related to Taxable Airport Economic Development Area Public Improvement Protect <br />RefmancinQ. <br />Mrs. Kolata noted that H. J. LTmbaugh was the financial consultant on the original <br />Airport bond. They have been working with City Securities on the refinancing thus far. <br />They would provide financial services on this bond for $30,000 plus $3,000 for escrow <br />verification. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously serried, <br />the Authority approved the proposal from H. 7. Umbaugh & Associates for professional <br />servies related to the Taxable Airport. Economic Development Area Public Improvement <br />Project Refinancing. <br /> <br />