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<br />• <br />The South Bend Redevelopment Authority <br />December 7, 1998 Meeting Minutes <br />the Authority approved the proposal from Norwest Investment Management and <br />Trust for professional services related to the Blackthorn Refunding Bonds of <br />1998. <br />4. CLAIMS <br />Blackthorn Refunding Bonds of 1998 <br />Standard & Poor's $6,000.00 <br />McGladrey & Pullen, LLP $2,500.00 <br />Moody's Investors Service $6,500.00 <br />Crowe Chizek $3,807.62 <br />• <br />Mrs. Kolata stated that the claims for Standard & Poor's and Moody's Investors Service <br />are for bond ratings. McGladrey & Pullen did an escrow verification for the bonds, and <br />Crowe Chizek's claim is for the printing of the Official Statement. <br />Mr. Alvarez asked why more than one bond rating was necessary. Mrs. Kolata replied <br />that more than one rating makes the bonds more saleable. Standard & Poor's and Fitch <br />both rate the City higher than Moody's, who did the rating on the original bonds. <br />Upon a motion by Mr. Alvarez, seconded by Mr. Kahn and unanimously carried, the <br />Authority approved the claims submitted December 7, 1998. <br />6. NEXT MEETING DATE: December 21, 1998. <br />7. ADJOURNMENT <br />Upon a motion by Mr. Alvarez, seconded by Mr. Kahn, and unanimously carried, the <br />meeting was adjourned at 1:45 p.m. <br />Ann Kolata, Director <br />• <br />H:\WPDATA\AUTHORTY\120798.MIN <br />