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OUTIJ <br /> 120ONCouwy-OayBurinruG W I //'j P14ONE 57V 235-9216 <br /> 227 W Jupntsorr BLvD. ,, -� W <br /> ���r c��i ��" FAX 5741235-9928 <br /> So BFND,INDrANA46601-1830 ra 4� <br /> R k <br /> 1865 <br /> CITY OP SOUTH BENZ) PETE B=rsiEG,MAYOR <br /> DEPARTMENT OF ADMINISTRATION AND FINANCE <br /> April 18, 2012 <br /> Mr. Derek D. Dieter, President <br /> City of South Bend Common Council <br /> 227 W. Jefferson Boulevard, 4`h Floor <br /> South Bend, Indiana 46601 <br /> RE: Ordinance of the Common Council—Refunding of 2003 City of South Bend <br /> Building Corporation ("Building Corporation") Bonds <br /> Dear President Dieter, <br /> Attached please find a Ordinance to authorize the Building Corporation to refund the <br /> 2003 Bonds and approve the sale of Refunding Bonds in an amount not to exceed <br /> $16,100,000.00 in order to reduce the lease rentals payable by the City under the terms of <br /> its Lease with the Building Corporation. The result of this effort is to save the City at <br /> least $450,000 over the remaining life of the Refunding Bonds. <br /> I will present this bill to the Common Council at the appropriate committee and council <br /> meetings. It is requested that this bill be filed for I"reading on April 23, 2012 with 2"d <br /> reading, public hearing and 3rd reading scheduled for May 14, 2012. <br /> Thank you for your attention to this request. If you should have any questions, please feel <br /> to contact me at 574-235-7500. <br /> Regards, <br /> Mark W. Neal <br /> City Controller <br /> Hied <br /> cc: Pete Buttigieg Mayor <br /> Mike Schmuhl, Chief of Staff <br /> Kathryn Roos, Deputy Chief of Staff ?, j` NQ <br /> CITY Cfif.:EIRK,S(.k Ul:i <br /> ✓n <br /> V <br />