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<br />ject No.
<br />Contract
<br />RESOLUTION NO. 227
<br />RESOLUTION AUTHORIZING THE SALE, ISSUANCE, AND DELI-
<br />VERY OF PRELIMINARY LOAN NOTES IN THE AGGREGATE PRIN-
<br />CIPAL AMOUNT OF $1,375,000.00, THE EXECUTION OF RE-
<br />QUISITION AGREEMENT NO. 3, AND THE EXECUTION AND DE-
<br />LIVERY OF PROJECT TEMPORARY LOAN NOTE NO. 4, IN CON-
<br />NECTION WITH PROJECT, NO. IND. R -57
<br />EAS, City of South Bend, Department of Redevelopment (herein called
<br />1 Public Agency ") has entered into a contract dated as of the 22nd
<br />ril, 1966, numbered Contract No. Ind. R- 57(LG), (which, together
<br />supplements thereto or amendments, modifications, or waivers of
<br />sion thereof, is herein called the "Loan and Grant Contract "), with
<br />d States of America (herein called the "Government ") providing, in
<br />a Project Temporary Loan by the Government to the Local Public
<br />.der Title I of the Housing Act of 1949, as amended (42 U.S.C. 1450
<br />in an amount outstanding at any one time not to exceed $2,461,582.00
<br />e Local Public Agency in its undertaking and carrying out of a
<br />,rban renewal project (herein called the "Project ") designated Pro -
<br />Ind. R -57, which is more fully identified in the Loan and Grant
<br />and
<br />WHF.REAS, the Government has agreed, pursuant to Requisition Agreement
<br />No. 2 with the Local Public Agency dated as of the 8th day of August, 1967
<br />(herein called the "Outstanding Requisition Agreement ")`, to make a payment
<br />on acco nt of said Project Temporary Loan on the 9th day of August, 1968,
<br />which Project Temporary Loan payment has been pledged for the payment of
<br />the principal of and interest upon the Preliminary Loan Notes Second "C"
<br />Series of the Local Public Agency which mature on the 9th day of August,
<br />1968, and are herein called the "Outstanding Preliminary Loan Notes;" and
<br />WHEREAS, pursuant to advertisement for the receipt of proposals for the
<br />purchase of the Third "C" Series of Preliminary Loan Notes (herein some-
<br />times called "New Preliminary Loan Notes ") of the Local Public Agency ag-
<br />gregating $1,375,000.00, which appeared in a Notice of Sale published in
<br />the June 25th and June 27th, 1968, issues of the South Bend Tribune June
<br />25th, 1968 issue of the Daily Bond Buyer in the City of New York, proposals
<br />for the purchase of said New Preliminary Loan Notes in the form approved by
<br />the Local Public Agency were received, opened, and canvassed at the time
<br />and place mentioned in said advertisement, to wit: At 120 W. LaSalle Ave-
<br />nue in the City of South Bend, Indiana, at one o'clock, P. M., E.D.S. time,
<br />July 9, 1968, which proposals are as follows:
<br />Interest Principal
<br />Name of Bidder Rate Amount Premium
<br />North ern Trust Company & A. G. Becker 3.72% $1,375,000 $15.00
<br />Indiana National Bank of Indianapolis 3.689/6 1,375,000 13.00
<br />St. Joseph Bank and Trust Company 3.59% 1,375,000 11.00
<br />Continental Illinois National Bank &
<br />Trust ompany of Chicago and First
<br />Boston Corporation 3.56% 1,375,000 41.00
<br />Morgan Guaranty Trust Company of New
<br />York a d Salomon Brothers and Hutzler 3.48/Do 1,375,000 76.00
<br />First I at ional Bank of Boston and John
<br />3.4796 1,375,000 55.00
<br />Nuveenl& Co. Inc.
<br />Bank 4 America, N.T. & S.A. and First
<br />Nation 1 City Bank 3.38% 1,375,000 70.00
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