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T. .~--~ <br />• South Bend Redevelopment Authority <br />Annual Organizational Meeting -February 5, 1997 <br />3. APPROVAL OF MINUTES <br />a. Approval of Minutes of the Regular Meeting of Wednesday, November 6, <br />1996. <br />Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously <br />carried, the Authority approved the Minutes of the Regular Meeting of <br />Wednesday, November 6, 1996. <br />4. NEW BUSINESS <br />a. Authority approval requested for Resolution No. 111 Approving the <br />Execution of an Addendum to the Lease between the Authority and the <br />South Bend Redevelopment Commission and other related matters <br />Mrs. Kolata explained that Resolution No. 111 is related to the refinancing of the <br />Airport Tax Exempt Bond issue. The resolution approves the Lease Addendum, <br />setting up a new lease payment schedule that reduces the annual lease rental on the <br />bonds. <br />Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously <br />carried, the Authority approved Resolution No. 111 Approving the Execution of <br />an Addendum to the Lease between the Authority and the South Bend <br />Redevelopment Commission and other related matters. <br />b. Authority approval requested for Resolution No. 112 amending Resolution <br />No. 107 Authorizing the Issuance of the South Bend Redevelopment <br />Authority Lease Rental Revenue Refunding Bonds and other related matters <br />Mr. Rompola explained that Resolution No. 112 provides for the issuance of <br />bonds to advance refund the 1991 Airport Tax Exempt bonds. It was originally <br />thought that this refinancing would take place in 1996 but it was postponed until <br />1997. The resolution acknowledges that delay and modifies the name of the bond <br />issue from Series 1996 B Bonds to 1997 Bonds. <br />Upon a motion by Mr. Gammage, seconded by Ms. Ferlic and unanimously <br />carried, the Authority approved Resolution No. 112 amending Resolution No. 107 <br />Authorizing the Issuance of the South Bend Redevelopment Authority Lease <br />Rental Revenue Refunding Bonds and other related matters. <br />• <br />