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V TO <br /> 12ooN GouNTY--CrrY BurmrtaG " .\ G Non 574/235-9216 <br /> 227WJT,FTERS0NBrvD, PAX 574/235-9928 <br /> soum BEND,NaANA 46601-1830 09 <br /> a� <br /> 1865 <br /> CrrY of Sourp BpNr) NT1 BMIGIBG,MAYOR <br /> DEPARTMENT OF ADMINISTRATION AND .FINANCE <br /> April 1$, 2012 <br /> Mr. Derek D. Dieter, President <br /> City of South Bend Common Council <br /> 227 W. Jefferson Boulevard, 4th 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 1 st reading on April 23, 2012 with 21" <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 /> '•���;=fir ��-,.:�.� :,, .. _ <br /> cc: Pete Buttigieg Mayor ,� . ...,., <br /> Mike Schmuhl, Chief of Staff <br /> Kathryn Roos, Deputy Chief of Staff t,P f <br /> i k`, <br />