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1994-03-15 Minutes
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1994-03-15 Minutes
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<br />• South Bend Redevelopment Authority <br />Special Meeting -March 15, 1994 <br />4. NEW BUSINESS (Cont.) <br />b. continued.... <br />r~ <br />~~ <br />petition the Council to vacate a portion of the service drive and will transfer <br />the entire property. <br />Upon a motion by Mr. Gammage, seconded by Mr. Fewell and unanimously <br />carried, the Authority approved Resolution No. 89 accepting the transfer of <br />real property from the South Bend Redevelopment Commission. <br />c. Authority avnroval requested for Resolution No 90mdicatine the~An~ho nt~ 's <br />intent to issue Redevelo merit Authorit Lease tcenuu tcGiuuuul y~==~~ ~--~ <br />that certain relimin costs be reimbursed from the roceeds of such bonds. <br />Mrs. Kolata noted that a discussion of interest razes coe enHi~e of RF Bond <br />has caused us to consider refunding the 1990 Tax In <br />Bonds for the downtown, East Bank and Monroe Park area. We are not <br />certain that we want to move ahead. with the refinancing because each bond <br />• can only be refinanced one time and interest rates may not be such that there is <br />sufficient savings to warrant a refunding. However, this resolution will allow <br />us to begin discussions with our financial consultant and potential bond buyers <br />to see if we can negotiate a good rate. Our financial. advisor and out <br />Controller both feel that a negotiated sale will be the best method if we do <br />refinance. <br />Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously <br />carried, .the Authority approved Resolution No.R90 ~ dRefu ~ e B rids ands <br />intent to issue Redevelopment Authority Lease g <br />that certain preliminary costs be reimbursed from the proceeds of such bonds. <br />5 , APPROVAL OF CLAIMS <br />Claims submitted for payment 15 March 1994 <br />BLACKTHORN CONSTRUCTION FUND <br />South Bend Water Works $ 121.57 <br />South Bend. Water Works $ 42.51 <br />Pence-Dickens & Heeter $ 50.41 <br />• -5- <br />
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