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• The South Bend Redevelopment Authority <br />Apri126, 2000 Meeting Minutes <br />carried, the Authority approved the claims submitted April 26, 2000. <br />6. OTHER BUSINESS <br />a. Norwest Bank ratification <br />Mrs. Kolata checked with Norwest about the letters they were sending us. -They <br />wanted the Authority to sign a letter stating we ratify the investment actions that <br />Norwest had taken. Since that is already in the trust agreement there is no need to' <br />ratify their actions. The trust agreement does say that Norwest will invest at the <br />direction of the Authority. Their auditors are wanting that information in writing. <br />The City Controller is willing to act on behalf of the Authority in this matter. <br />Forms could be filled out for each of the accounts, and the City Controller would <br />sign them. Mrs. Pfotenhauer asked if they are supposed to invest at our direction <br />why are they asking for ratification? A ratification is not at our direction. Mrs. <br />Pfotenhauer suggested that we give them a letter directing them to act in <br />accordance with the trust agreement and give us reports on a regular basis. Mrs. <br />Kolata said the quarterly bank statements outline their actions and could be <br />brought to the Authority meetings if they would like to see them. Mrs. <br />• Pfotenhauer said that Norwest should send a letter each quarter, stating that the <br />quarterly bank statements have been reviewed and show that they are complying <br />with the-trust agreement. Mrs. Kolata said she would draft a letter for the <br />Authority to sign at the next meeting that would be sent to Norwest with that <br />request. <br />B. Clarification of a claim for the annual administration fee for Blackthorn Golf <br />Course. <br />Mrs. Kolata said Blackthorn Golf Course sent a claim for $1,500.00, which <br />should have been only $1,250.00. Mrs. Kolata checked the minutes, saw the <br />$1,500.00 claim had been approved December 15, 1999, so she called and asked <br />if the claim had been paid. They reported that they had not paid themselves the <br />$1,500.00, but were going to pay themselves the $1,250.00. <br />Upon a motion by Mrs. Pfotenhauer, seconded by Mr. Alvarez, the <br />Redevelopment Authority acknowledges the $1,500.00 claim was in error, and <br />has rescinded their approval of that claim, and approved the $1,250.00 claim. <br />7. NEXT MEETING DATE: May 15, 2000. <br />• H:\WPDATA\AUTHORTY\042600.min.wpd <br />