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There were three types of fees/charges in all of the bids: (1) an initial fee, (2) an annual fee during the life of the bond, and (3) administrative fees on individual transactions. All proposals indicated that they would .charge reimbursable expenses. Mrs. Kolata indicated that using a local bank ...for the garage trustee would minimize these reimbursables, particularly during the construction phase. Mrs. Kolata indicated-.that it would .also be advantageous to use the same bank for both the garage and stadium. The schedule for the financing of the parking garage is being revised so that the, the financing of the garage and refinancing of the stadium will be on the same schedule and the bonds for each will be sold at the same time. Mrs. Kolata indicated that the staff was recommending that the Authority hire. First Interstate as the Bond Trustee, Paying Agent and Registrar for the following reasons: (1) They currently service a number of large bond issues, such as hospitals., .schools, civic. centers, etc. so are experienced in this field. (2) Their rate is an hourly rate. (3) The fees for specific services were low. Also, First Interstate put together an estimated cost for servicing each project and these estimates were in line with the other bids. Mr. Varga asked whether Bond Counsel, Baker & Daniels, had the same reconBnendation. Mrs. Kolata responded that the staff consulted with Bond Counsel. and .they concurred-with the. recommendation. Mr. Varga noted that First Interstate's bid for .the garage included a higher charge than the others for the period during construction. He wondered if the cost effectiveness of using the same bank for both financings was .significant enough to outweigh that higher charge. Mrs. Kolata indicated that the efficiencies could be significant. Two sets of banks with two sets of attorneys would mean significantly more negotiating .for Bond Counsel and would increase. what we pay Bond Counsel. Mr. Varga asked if First Interstate would be administering the bonds locally. Mrs. :Kolata responded that they would be. Upon a motion by Mr. Davey, seconded by Mr. Wroblewski and unanimously carried, the Authority accepted the First Interstate Bank bid to be Bond Trustee, Bond Registrar and Paying Agent for the St. Joseph/Wayne Parking Facility. 4. Authority selection of Bond Trustee, Bond Registrar and Paying Agent for the Stanley Coveleski Regional Stadium. Upon a motion by Mr. Wroblewski, seconded by Mr. Davey and unanimously carried, the Authority accepted the First Interstate Bank bid to be Bond Trustee, Bond Registrar and Paying Agent for the refinancing of the Stanley Coveleski Regional Stadium. Mr. Varga asked that the staff express appreciation for the effort each of the banks put into .making their bid. Mr. Varga also requested that the staff indicate to First Interstate that they were selected for both projects because of the .expected efficiencies to be realized with one bank administering both projects.