HomeMy WebLinkAbout1990-03-29 Minutes
SOUTfi BEND REDEVEIAPMENT AUl'HORITY
SPECIAL MEETIlIG
March. 29, 1990 1200 County-City Building
4:00 p.m. 227 W. Jefferson Boulevard
Presiding: Joseph Wroblewski South Bend, Indiana 46601
President
The March 29, 1990, Special Meeting of the Redevelopment Authority was called to
on3er at 4:10 p.m. by its President, Joseph Wroblewski. There was a quorum present.
1. ROLL CALL
Members Present:
Legal Counsel:
Redevelopment Staff:
Media:
2. APPROVAL OF NLLNUTES
Mr. Joseph Wroblewski, President
Mr. Don Fewell, Vice President
Mr. Geon~e McCullough, Secretary/Treasurer
Ms . Carolyn Pfotenhauer
Mrs. Ann Kolata, Director
Mrs. Martha Lantz, Recon3ing Secretary
Mr. Don Porter, South Bend Tribune
a. .Approval of Minutes of the Special Meeting of March 2. 1990.
Upon a motion by Mr. McCullough, seconded by Mr. Fewell and unanimously
carried, the Authority approved the Minutes of the Special Meeting of Friday,
March 2, 1990.
b. Approval of Minutes of the Special Meeting of March 27, 1990.
Upon a motion by Mr. Fewell, seconded by Mr. McCullough and u~r~animously
carried, the Authority approved the Minutes of the Special Meeting of
Tuesday, March 27, 1990.
3. NEW BUSINESS
a. Authority approval requested for Resolution No. 19, a resolution of the South
Bend Redevelopment Authority reducing the annual rental on the Lease for the
South Bend Central Development Area Public Improvement Pro-iect approving the
execution of an addendtun to the Lease, ratifying the selection of a
successful bidder and the_texms of the bonds, and reaandina other related
matters.
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Mrs. Kolata explained that Resolution No. 19 ratifies ar~d approves the awan~
of the sale of the Bonds to John Nuveen aril Carnpany, Inc. in the amount of
$4,895,000 at a price equal to $4,810,260.16 aril with a net interest rate of
7.3541%. The resolution also amexyds the Lease to reflect the lower annual
rental payments based on the sale of the bonds, defines the word "project" to
include all of the construction work to be completed with bond proceeds, and
refines two legal descriptions based on the title work that has recently been
done. The resolution also approves the Official Statement Adderidtnn as final.
The meeting was suspended to wait .for the final copy of Resolution No. 19 to arrive
and resLmied at 4:55 p.m.
Upon a motion by Mr. Fewell, seconded by Mr. Mccltllough and unanimously
carried, the Authority approved Resolution No. 19 reducing the annual rental
on the Lease for the South Bend Central Development Area Public Improvement
Project, approving the execution of an addendtun to the Lease, ratifying .the
selection of a successful bidder and the terms of the bonds, and rer~aYrlirig
other related matters.
4. AATTGLTRI~'.P
The meeting was adjourned at 5:00 p.m.
J ph Wrob ewski, President
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Atux' E. Kolata, Di_rec~tor