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South Bend Redevelopment Authority <br />Special Meeting -June 29, 1993 <br />3. NEW BUSINESS (Cont.) <br />a. continued... <br />acquiring additional land. We actually expect the bond sale to be more in the <br />neighborhood of $4,800,000. The resolution provides that the maximum interest rate for <br />the bonds may not exceed 8.5 ~ . Principal and interest on the bonds will be paid <br />semiannually on February 1 and August 1, with a final maturity date no later than <br />August 1, 2012. The underwriter may aggregate the bonds into one or two '"term <br />bonds.'° The resolution also appoints Society National Bank as trustee for the bonds and <br />as escrow agent for the refunding of the 1991 taxable bonds and approves forms of the <br />trust agreement and escrow agreement. It also provides that the bonds will be sold by <br />private, negotiated sale to City Securities Corporation. <br />Upon a motion by Mr. Gammage, seconded by Mr. Wroblewski and unanimously <br />carried, the Authority approved Resolution No. 77 authorizing the issuance of the South <br />Bend Redevelopment Authority Taxable Lease Rental Acquisition and Refunding <br />Revenue Bonds of 1993 (Airport Economic Development Area Public Improvement <br />Project) and other related matters. <br />• 4. APPROVAL OF CLAIMS <br />Claims submitted for payment June 29, 1993: <br />AIRPORT TAX-EXEMPT. PUBLIC IlVIPROVEMENTS <br />Holladay Corporation $597.18 <br />BLACKTHORN GOLF COURSE <br />Michael Hurdzan Golf Course Design $40,000.00 <br />5. ADJOURNMENT <br />There being no further business <br />that the meeting be adjourned. <br />adjourned at 4:50 p.m. <br />to come before the Authority, Mr. Gammage made a motion <br />VIr. Wroblewski seconded the motion and the meeting was <br />I.Ca ~= <br />eph .Wroblewski, President <br />• <br />Ann E. I~olata, hector <br />_~_ <br />