HomeMy WebLinkAbout1990-12-21 Minutes..*...+ +..- -a
SOUTH BEND REDEVELOPMENT AUTHORITY
SPECIAL MEETING
December 21, 1990 1200 County-City Building
2:00 p.m. 227 W. Jefferson Boulevard
Presiding: Joseph Wroblewski South Bend, Indiana 46601
President
The December 21, 1990, Special Meeting of the Redevelopment
Authority was called to order at 2:04 p.m. by its President, Joseph
Wroblewski. There was a quorum .present.
1. Roll Call
Members Present: Mr. Joseph Wroblewski, President
Mr. Don Fewell, Vice President
Legal Counsel: Mr. Richard A. Nussbaum, II
Redevelopment Staff: Mrs. Ann Kolata, Director
Mrs. Cheryl Phipps, Office Manager
2. New Business
a. Authority approval requested for Resolution No. 28
• adopting a Restated and Amended Lease between the
Redevelopment Authority and the Redevelopment Commission
for the Airport Economic Development Area Public
Improvement Proiect.
Mrs. Kolata noted that since the bond issue has been
divided into a taxable bond and a tax exempt bond, the
Lease needs to be revised to reflect wording to that
effect and to show the payment schedule for both bonds.
Mrs. Kolata noted that the Lease states that if we are
not paying on one bond for a reason such as having paid
one off early, we would still be obligated to make lease
payments on the other one. Payment dates and amounts for
the tax exempt bond will be semi-annual payments of
$95,500 beginning when the project is complete or January
28, 1994. The payment dates and amounts for the taxable
bond will be semi-annual payments of $232,000 beginning
July 28, 1993 or when the project is completed. The
Lease also stipulates that we will do nothing to
jeopardize the tax exempt status of the bonds.
Mrs. Kolata noted that we expect one other revision to
the Lease when the bond is sold and final numbers are
known.
•
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South Bend Redevelopment Authority
Special Meeting - December 21, 1990
2. NEW BUSINESS (Cont.)
a. continued...
Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski
and unanimously carried, the Authority approved
Resolution No. 28 adopting a Restated and Amended Lease
between the Redevelopment Authority and the Redevelopment
Commission for the Airport Economic. Development Area
Public Improvement Project.
b. Authoritv approval requested for Resolution No. 29
approving an Official Statement relating to the issuance
of the South Bend Redevelopment Authority Taxable Lease
Rental Revenue Bonds LAirport Economic Development Area
Public Improvement Pro-iect and authorizing distribution
of information.
Mrs. Kolata noted that Resolutions No. 29 and 30 approve
and authorize distribution of the Official Statement for
the taxable and tax exempt bands. They also authorize
publication of the Notice of Intent to Sell Bonds. We
expect to hold the sale around January 15, 1991.
Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski
and unanimously carried, the Authority approved
Resolution No. 29 approving an Official Statement
relating to the issuance of the South Bend Redevelopment
Authority Taxable Lease Rental Revenue Bonds (Airport
Economic Development Area Public Improvement Project_ and
authorizing distribution of information.
c. Authoritv approval requested for Resolution No. 30
approving an Official Statement Relating to the issuance
of the South Bend Redevelopment Authority Lease Rental
Revenue Bonds (Airport Economic Development Area Public
Improvement Project), and authorizing distribution of
information.
Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski
and unanimously carried, the Authority approved
Resolution No. 30 approving an Official Statement
relating to the issuance of the South Bend Redevelopment
Authority Lease Rental Revenue Bonds (Airport Economic
Development Area Public Improvement Project), and
authorizing distribution of information.
3. Other
There was no other business.
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South Bend Redevelopment Authority
Special Meeting - December 21, 1990
4. Adjournment
There being no further business to come before the
Redevelopment Authority, Mr. Fewell made a motion that the
meeting be adjourned. Mr. Wroblewski seconded the motion and
the meeting was adjourned at 2:16 p.m.
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se Wroblewski, President Ann Kolata, Director
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