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<br />• <br />• <br />SOUTH BEND RIDEVELOPMENT AU1'fiORITY <br />SPECIAL MEETIl~TG <br />March 27, 1990 <br />12:00 noon <br />Presiding: Joseph Wroblewski <br />President <br />1200 County-City Building <br />227 W. Jefferson Boulevard <br />South Bend, Indiana 46601 <br />The March 27, 1990, Special Meeting of the Redevelopment Authority was called to <br />order at 12:00 noon by its President, Joseph Wroblewski. There was a quorum present. <br />1. Roll Call <br />Members Present: Mr. Joseph Wroblewski, President <br /> Mr. Don Fewell, Vice President <br />Members Absent: Mr. Geonde McCullough, Secretary/Treasurer <br />Legal Counsel: Ms. Carolyn Pfotenhauer <br />Redevelopment Staff: Mrs. Ann Kolata, Director <br /> Mrs. Cheryl Phipps, Office Manager <br /> Mr. Larry Koepfle, Economic Dev. Specialist <br /> Ms. Hedy Robinson, Econamic Dev. Specialist <br />Media: Mr. Don Porter, South Bend Tribune <br /> Mr. Mark Peterson, WNL7CT~I'V <br /> Mr. Kevin Bans, WNDU-'I'~1 <br />Others: Mr. Richard Treptow, Springsted, Inc. <br /> Mr. Richard Hill, Parker & Jaicomo <br /> Mr. John Leisenring, Deputy Controller <br /> Mr. Steve White, Auditor <br /> Mr.. Jeff RinaYtl, Deputy Controller's Office <br /> Mr. Joseph Garrett, City Securities Corp. <br />2. Opening and award of bids for the South Bend Redevelopment Authority Lease Rental <br />Revenue Bonds LSouth Bend Central Development Area Public Improvement Proms). <br />Mrs. Kolata introduced Mr. Richard Treptow, financial advisor for the bond issue <br />and asked him to preside over the bid opening. <br />Mr. Treptow reported that there were four bids for the Redevelopment Authority <br />$4,895,000 Lease Rental Revenue Bonds of 1990. He noted that interest rates have <br />come down over the last five years, making this a good time to be selling bonds. <br />• <br />Mr. Treptow noted that the Authority has received a conditional A rating from <br />Moody's Investor Service for these bonds, which is an excellent rating. The <br />conditional qualification is due to the fact that the projects are not yet <br />constructed. He noted that the bonds for the St. Joseph/Wayne Parking Facility <br />also had a conditional A rating until the garage was built, at which time the <br />rating was changed to an A rating. <br />-1- <br />