RM 01-19-73 - Laserfiche WebLink

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6. NEW BUSINESS (Cont'd) On m tion by Mr. Wiggins, seconded by Mr. Wade and unani- mous y carried, Resolution No. 435 was adopted. 1. Financing Procedures, Ind. R -66 Project: Com- miss on approval was requested to proceed with outside fina cing procedures, for the Indiana R -66 Project. Reso ution No. 280, adopted by Commission on November 21, 1969 referred to as a "Basic Loan Note Resolution ", authorized the loan procedures for federal loan note or the use of that note as security. Resolution No. 281, adop ed by the Redevelopment Commission on November 21, 1969 referred to as the "Master Resolution ", authorized the staff to enter into transactions for the development of private financing using the federal note as security and the refinancing each year of the old note plus any addi ional amounts needed for the next year's operating capi al. ADVERTISING APPROVED FOR FINANCING, R -66 The efinancing for R -66 in 1973 has been designated as Firs Series 1973 and will be in the amount of $13,015,000.00 to m ture February 1, 1974. The Notice of Sale would be ad- vert sed in the local newspaper on January 23 and 30, 1973; and lso in the Daily Bond Buyer on January 23, 1973, with bid pening on February 6, 1973, at 1:00 P.M., and the exe- cuti n and submission of bid award documents to HUD. The loan is repaid from Federal Grants earned and monies from the ale of land. On motion by Mr. Wiggins, seconded by Rev. Williams, the staff was authorized to proceed with the refinancing as noted above. Motion unanimously carried. c. Vault Retaining Wall'Contract No. 3: Commission VAULT auth rization was requested to negotiate Contract No. 3 WALL with H. F. Glaser, contractor, for a wall under the side- R -66 walk at 103 West Wayne Street, the Commerce Building, not to exceed $2,875.00. Mr. labaugh advised we had asked the owner of the build- ing 0ther to demolish or beef up the building. They chose to d molish. The work comprises 45 feet of 12" concrete blocc retaining wall and the relocation of steam pipes unde the sidewalk into the building. We requested them to r move the vault under the sidewalk. This is the third vaul we are acting on. On motion by Mr. Wiggins, seconded by Rev. Williams, nego- tiat ons for Contract No. 3, with H. F. Glaser, not to exce d $2,875.00 was approved and unanimously carried. - 7 - RETAINING CONTRACT NO. 39