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. "° <br />• South Bend Redevelopment Authority <br />Regular Meeting.- October 16, 1996 <br />b. Authority approval requested for letter from Norwest Bank regarding <br />investment of funds from the South Bend Redevelopment Authority -College <br />Football Hall of Fame and Century Center. Bond. Issues. <br />Mrs. Kolata explained that Norwest Bank wants written authorization to invest in <br />Treasury Securities in order to earn higher interest rates. Our financial advisor for <br />these bond issues, Municipal Consultants, has reviewed the letter and advised us <br />that the investment in these securities is in accordance with the provision of the <br />bond issue. They also recommended that we limit the investment to a maximum of <br />six month Treasury Securities. <br />Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously <br />carried, the Authority approved the letter of authorization from Norwest Bank <br />related to the College Football Hall of Fame and Century Center Bond Issues <br />subject to a maximum of six months Treasury Securities. <br />4. CLAIMS <br />• Claims submitted for approval on October 16, 1996 <br />SBCDA - 1996 A Bonds <br />Standard & Poor's <br />Operation & Reserve $4,500.00 <br />City Securities Corporation <br />Operation & Reserve $ 664.00 <br />Hall of Fame <br />The Fuji Bank, Limited <br />Expense Fund $5,714.49 <br />Upon a motion by Mr. Gammage, seconded by Ms. Ferlic and unanimously carried, the <br />Authority approved the Claims submitted for approval October 16, 1996 <br />5. NEXT MEETING DATE: <br />The next meeting of the Redevelopment Authority is scheduled for Wednesday, <br />November 6, 1996 at 4:30 p.m. <br />2 <br />