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<br />South Bend Redevelopment Authority <br />Special Meeting - March 27, 1990 <br />2. continued... <br />Mr. Treptow explained the bidder syndicates, which represent twenty-five bond <br />underwriters. The underwriters are grouped into four bidding accounts, called <br />syndicates. <br />Mr. Treptow opened the bids and reported as follows: <br />Bidder <br />Merchants National Bank <br />INB National Bank <br />Bank One, Indianapolis, N.A. <br />PNC Lpuisville <br />Northern Trust Co. of Chicago <br />Net Interest Net Interest <br />Dollar Cost Rate <br />$5,967,437.92 7.425034% <br />Clayton Brown & Assoc. Inc. $5,989,715.03 7.4527% <br />Blunt Ellis & Loewi, Inc. <br />Griffin, Kubik, Stephens & Thompson <br />Dean Witter Reynolds Inc. $5,957,383.83 7.4125% <br />Prudential Bache Securities <br />• Shearson Lehman Hutton <br />Merrill Lynch Capital Markets <br />Traub and Company <br />Raffensperger, Hughes, & Co., Inc. <br />McDonald and Company <br />A.G. Edwards and Sons Inc. <br />Cronin & Co. Inc. <br />Roney & Co. <br />(Hutchinson, Shockey, Erley & Co.) <br />I~ <br />LJ <br />John Nuveen & Co. Inc. $5,910,488.59 7.3541 <br />City Securities Corp. & Assoc. <br />Smith Barney, Harris Upham & Co. <br />Stmrac~as & Company, Inc• <br />The Ohio Company <br />David A. Noyes & Co. <br />Mr. Treptow annrnuzced that the apparexit law bidder, based on the lowest dollars <br />of interest cost over the life of the issue, was the syndicate headed by John <br />Nuveen & Co. Inc. Mr. Treptow called the bid into Springsted's home office to <br />verify the mathematical accuracy and confirmed the low bid to be that of John <br />Nuveen & Co. Inc. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously carried, <br />the Authority awan~ed the bid to John Nuveen & Co. Inc. and City Securities Corp. <br />& Assoc. <br />-2- <br />