1988-04-27 Minutes - Laserfiche WebLink

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.~.. . SOUTH BEND REDEVELOPMENT AUTHORITY SPECIAL MEETING May 27, 19.88 1200 County-City Building 8.00 a.m. 227 W. Jefferson Boulevard • South Bend, Indiana 46601 The May 27, 1988 Special Meeting of the Redevelopment Authority was called to order at 8:06 a.m. by its President, Thomas J. Varga, Jr. There was a quorum present. 1. Roll Call Members Present: Legal Counsel: Redevelopment Staff: News Media: ~2. A royal of Minutes pp Mr. Thomas J. Varga, Jr. Mr. Chris Davey Mr. Joseph Wroblewski Mr. Richard Nussbaum II Mrs. Ann Kolata, Deputy Executive Director Mrs. Cheryl Phipps, Office Manager Ms. Jeanne Derbeck, South Bend .Tribune Upon a motion by Mr. Wroblewski, seconded by Mr. Davey and unanimously carried, the Authority approved the Minutes of the Special Meeting of May 13, 1988. 3. Authority selection of Bond Trustee, Bond St. Joseph/Wayne Parking Facility.. and for the Mr. Nussbaum noted that all of the banks submitting proposals submitted for both the parking facility and the stadium. Eight banks submitted proposals: Indiana National Bank, Indianapolis Merchants National Bank & Trust, Indianapolis Bank One, Indianapolis Valley American Bank, South Bend 1st Source Bank, South Bend Midwest Commerce Bank, South Bend Trustcorp, South Bend First Interstate Bank, South Bend Mrs. Kolata summarized the proposals for both the parking facility and stadium. The Bond Trustee, Bond Registrar and Paying Agent receives the bond proceeds and pays the bills as they come in. She noted that during construction, there are more responsibilities and administrative duties to perform. All of the banks submitting bids provided background on their expertise in bond and asset administration and lack of qualifications was not an issue in the decision.