HomeMy WebLinkAbout2001-04-16 Redevelopment Authority Minutes
SOUTH BEND REDEVELOPMENT AUTHORITY
• REGULAR MEETING
April 16, 2001 1308 County-City Building
1:30 p.m. 227. West Jefferson Boulevard
Presiding: Ms. Carolyn Pfotenhauer South Bend, IN 46601
The April 16, 2001 Regular Meeting of the Redevelopment Authority was called to order at
1:35 p.m. by its President, Carolyn Pfotenhauer. There was a quorum present.
1. ROLL CALL
Members Present: Ms. Carolyn V. Pfotenhauer, President
Mr. Jose Alvarez, Secretary
Redevelopment Staff: Mr. Donald Inks, Director
Mrs. Jenny Hullinger, Recording Secretary
2. APPROVAL OF MINUTES
a. Approval of the minutes of January 15, 2001
• Upon a motion by Carolyn Pfotenhauer, seconded by Jose Alvarez, and unanimously
carried, the Authority approved the Minutes of the Regular Meeting of March 26, 2001.
3. NEW BUSINESS
a. Authority approval of Resolution No. 145 authorizing the issuance of the South
Bend Redevelopment Authority Lease Rental Revenue Refunding and Improvement
Bonds of 2001 (Century Center Project) and other related matters.
Mr. Richard Hill, of Baker and Daniels, stated that Resolution No. 145 provides
for the refunding of the 1994 Century Center Project bonds because of the change
in the bond market. The present lower interest rates will bring a sizeable savings
for the City. The resolution refers to additional related documents: the Bond
Purchase Agreement, the Irrevocable Escrow Deposit Agreement, the Continuing
Disclosure Undertaking Agreement, and the Trust Agreement. The Escrow
Deposit Agreement allows the bond proceeds to be put in escrow, and would pay
off and redeem those bonds at the appropriate times. It is proposed that City
Securities would be the purchaser of the bonds. The bonds may sell next week
depending on market conditions.
Upon a motion by Mr. Alvarez and seconded by Ms. Pfotenhauer, the Authority
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The South. Bend Redevelopment Authority
April 16, 2001 Meeting Minutes
approved Resolution No. 145 authorizing the issuance of the South Bend
Redevelopment Authority Lease Rental Revenue Refunding and Improvement
Bonds of 2001 (Century Center Project) and other related matters.
4. CLAIMS
Claims previously reviewed and recommended for approval by the Director of Economic
Development and the City Controller on April 16, 2001.
College Football Mall of Fame Bonds
Fitch, Inc.
Public Rating $7,500.
South Bend Central Development Area Project 1990
Annual Administration Fee for 4/1/2000 - 3/31/2001 $900.
•
Upon a motion by Ms. Pfotenhauer, seconded by Mr. Alvarez, and unanimously carried,
the Authority approved the claims submitted April 16, 2001.
5. NEXT MEETING DATE: May 7, 2001
6. ADJOURNMENT
There being no further business to come before the Redevelopment Authority the meeting
was adjourned at 1:54 p.m.
Carolyn V. P tenha Pr ident
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Donald I s, Director
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