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RM 07-11-69
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RM 07-11-69
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5. NSW BUSINESS (Cont'd <br />d. <br />Rehabilitation Grant: <br />Approval was requested <br />REHABILITATION GRANT <br />for on <br />( Rehabilitation Grant, <br />in the LaSalle Park <br />APPROVED, LASALLE <br />Urban Fenewal <br />Project, R -57, for <br />Parcel No. 22 -38. On <br />PARK URBAN RENEWAL <br />motion <br />by Mr. Helmen, seconded by <br />Mr. Wilhelm, the Re- <br />PROJECT, R -57 <br />habilitation <br />Grant for Parcel No. <br />22 -38 was approved. <br />Approv <br />1 was unanimous by all Commissioners present. <br />e. Resolution No. 267: This Resolution author- RESOLUTION NO. 267, <br />izes the issuance of Project Loan Notes, in the Indus- INDUSTRIAL EXPANSION <br />trial Expansion Project, R -56, and is at the request PROJECT, R -56 <br />of HUD in order to conform with 1968 legislation. This <br />basic loan resolution for the project will also author- <br />ize the Mayor to sign a new note for the project. There <br />is no change in the amount of money involved. On motion <br />by Mr. dilhelm, seconded by Mr. Chenney, authorization <br />was gra ted and Resolution No. 267 was unanimously ap- <br />proved y all Commissioners present. <br />Mrs. Ja et Allen asked why we are selling loan notes <br />when we are going to advertise the sale of land in the <br />Industrial Expansion Project. Mrs. Allen was apprised <br />that tha latest legislation requires the change of form <br />and loai notes provide operating capital, and, up to <br />this point, the land is not sold. <br />f. Resolution No. 268: This Resolution author- RESOLUTION NO. 268, <br />izes th sale, issuance and delivery of project notes LASALLE PARK URBAN <br />in the aggregate principal amount of $1,120,000, and RENEWAL PROJECT, <br />the Exe ution of Requisition Agreement No. 1, for the R -57 <br />LaSalle Park Urban Renewal Project, R -57. The bid <br />opening date was July 8, 1969, and the bidders were: <br />Th Chase Manhattan Bank, N.A., <br />an Lehman Bros. 5.970%, <br />Ba kers Trust Co., New York, <br />by First Bank & Trust Co. of <br />So th Bend 5.92% <br />Mo gan Guaranty Trust Company <br />of N.Y., and Salomon Brothers <br />& utzler 5.85% <br />Bark of America, N.T. & S.A., <br />an ( First National City BAnk <br />ThE National Bank and Trust <br />Co pany of South Bend <br />The low bidder was The National Bank and <br />of Sout Bend, Indiana, with an interest <br />no premium, with a bid amount of $1,120,1 <br />5.80% <br />5.18% <br />Trust Company <br />rate of 5.18 %, <br />)00. This is <br />
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