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6. NEW BUSINESS (Continued): d. Mr Wiggins moved the approval of the subject contracts. Motion t wa lost for want of a second. 7. PROGRESS REPORTS Mr. Br wnell indicated there were several matters on which he wished to report, the first concerning the Philadelphia case. He asked if there was anything on this from counsel. The Chair replied that he was under the im ression the hearing has been concluded and the case is under advise ent with the Judge "Mr. Patton and Mr. Chapleau, is that correc ?" Mr. Pa ton and Mr. Chapleau indicated this information is correct and they h ve heard nothing further at this time. C. Wayne Brownell then reported on the sale of the First Series 1977 Projec Notes as follows: "T ese First Series 1977 Project Notes, in the amount of $4,150,000, we a awarded to the low bidder; per our bid opening date of Fe ruary 23, 1977, at 1:00 p.m., Eastern Standard Time, as follows: Chemical Bank & Associates 20 Pine Street New York, New York 10015 By: Chemical Bank Coupon Paying Dept. Jas. Waterman, Asst. Treas. 55 Water Street New York, NY 10041 Zan interest rate of 2.82 %, with a Premium of $8.00 and maturity a of: December 16, 1977. Our Resolutuion No. 281 authorizes the sale, issuance and delivery of Project Notes, and the execution of requisition agreements in Pr Ject Indiana R -66. Tha Notice of Sale of the Project Notes appeared in The Daily Bond Bu er on February 8, 1977; and also in the South Bend Tribune on Fe ruary 8, 1977. The Notes have been presented and have been signed by the Mayor and submitted to the Regional Office in Chicago as requested by the Office of the Regional Counsel, Region V, Department of Housing and Urban Development." 3tea PROGRESS REPORTS -- PHILADELPHIA CASE FIRST SERIES 1977 PROJECT NOTES