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SOUTH BEND REDEVELOPMENT AUTHORITY <br />SPECIAL MEETING <br />November 15 , 1991 1200 County-City Building <br />1.00 p.m. 227 W. Jefferson Boulevard <br />Presiding: Joseph Wroblewski South Bend, Indiana- 46601 <br />President <br />The November 15, 1991, Special Meeting of the Redevelopment <br />Authority was called to order. at 1:12 p.m. by its President, Joseph <br />Wroblewski. There .was a quorum present. <br />1. ROLL CALL <br />Members Present: Mr. Joseph Wroblewski, President <br />Mr. Andre Gammage, Vice President <br />Mr. .Donald Fewell, Secretary <br />Legal. Counsel: Ms. Jenny Pitts-Manier <br />Redevelopment Staff: Mrs. Ann Kolata, Director <br />Mrs. Cheryl Phipps, Office Manager <br />Others: Mr. Don Porter, South Bend Tribune <br />• Mayor Joseph E. Kernan <br />Mr. John Leisenring, Deputy Controller <br />2. NEW BUSINESS <br />a. Authority approval requested for Resolution No. 46 <br />approving an Official Statement relating to the issuance <br />of the South Bend Redevelopment Authority Taxable Lease <br />Rental Revenue Bonds (Coveleski Stadium Refunding). <br />ratifying the execution and delivery of the contract for <br />the purchase of the bonds and approving the execution of <br />an Addendum to the Lease between the Authority and the <br />Redevelopment Commission for the Stanley Coveleski <br />Regional Stadium Facility. <br />Mayor Kernan thanked the Authority for going through the <br />.process of refunding the bonds for the Stadium. He also <br />thanked the staff for their effort on behalf of the <br />refunding. This is the second time the stadium has been <br />refinanced. The first time was from an interest rate of <br />13.428 to an interest rate of 9.51. This refinancing has <br />an interest rate of 6.67. The total savings. from this <br />refinancing is $340.,000.. The total net savings from both <br />refir_ancings is approximately $730,000. <br />_ The Mayor noted thatc this refinancing, like the previous <br />• one, does not make any new money available for any other <br />areas within the City. Its sole benefit is that it <br />