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South Bend Redevelopment Authority <br />Rescheduled Regular Meeting -July 8, 1993 <br />3. NERD BUSINESS (Cont.) <br />a. continued. > . <br />Mr. Rompola noted that Resolution No. 78 includes Exhibit A, the Form of Lease <br />Addendum, and Exhibit B, the Debt Service Schedule. Resolution ~To. 78 approves the <br />Form of Lease Addendum which includes the lease payment amounts. Based on the <br />pricing of the bonds, the net savings to be realized from the refunding is $680,589,77 <br />which has a present value of $520,236.82. The net interest cost as 7.25 °b e <br />The Bond Purchase Contract, which f®rm was approved previ®usly, now has the <br />numbers filled in: the par amount of the bonds is $4,905,000, the underwa~ter's dbscount <br />is $49,000; and the original issue dascou~at is $18, . <br />Resolution 1~To. 78 also authorizes publication of the 1~Totice of Execution of the Bond <br />Purchase Contract. The notice provides a statute of limitations. Anyone wishing to <br />challenge the bonds must do so within 15 days of that notification. <br />. Mrs. Kolata noted that we intend. to close on this bond on July 27. <br />Upon a motion by Mr. Gammage, seconded by Mr. ®Vroblewski and unanimously <br />carried, the Authority approved Resolution 1~To. 78 ratifying the execution of a Bond <br />Purchase Contract for the sale of the South Bend Redevelopment Authority Taxable <br />Lease Rental Acquisition and Refunding Revenue Bonds of 1993 (Airport Economic <br />Development Area Public Improvement Project), approving the execution of an <br />Addendum to the Lease between the Authority and the Redevelopment Commission for <br />the Airport Economic Development Area Public Improvement Taxable Project and <br />certain other related matters. <br />b. Authority aiYaroval requested for Agreement and Partial Release of Easement between <br />the Authority and the Amoco ®il Comuanv. <br />Mr. Riggs explained that this easement is the last one necessary in the Blackthorn area. <br />Amoco currently has a blanket easement over property the Authority owns which makes <br />the property undevelopable. This easement limits the Amoco easement to a 50 foot <br />corridor, 25 feet on either side of their pipeline. The pipeline runs along the Toll Road <br />and is not in the way of any potential development. <br />• <br />