HomeMy WebLinkAboutMOM 07-30-63MEMORDUM OF MEETING FOR THE OPENING OF BIDS FOR SALE OF THIRD
SERIE A PRELIMINARY LOAN NOTES
12x00 N Redevelopment Commission- Office
July 0, 1963 129 West Colfax Avenue
Present=
Edwin L. Davies, Controller, City of South Bend, Indiana
James G. Louis, President, South Bend Redevelopment Commission.
Howard Bellinger, Assistant Director,Department of Redevelopment
Frederick K. Baer, Attorney for Redevelopment Commission
Howard Bellinger, the Assistant Director, made proof of publica-
tion of Notice of Sale of 1,166,000, Third Series "A" Preliminary
Loan Notes, dated Tuesday, July 16, 1963, with certification
attached from the Daily Bond Buyer dated July 16, 1963, signed
by Ba bara Barker, Advertising Clerk.
It islnow 12 :05 P.M., Central Daylight Saving Time, and the
follo ing bids were opened and received:
St. J seph Bank and Trust Company, South Bend, Indiana. Interest
rate 1.88 %.
Morga Guaranty Trust Company of New York and Associates, 140
Broad ay, New York. Interest rate of 2% and premium of $54.00.
Conti ental Illinois National Bank and Trust of Chicago, Illinois.
Inter st rate of 1.96% and premium of $13.00.
Chemi al Bank New York Trust Company,;:,20 Pine Street, New York.
Inter st rate of 1.97% and premium of $47.00,:
First National City Bank, 55 Wall Street, New York, N. Y. Interest
rate f 1.97% and premium of $58.00.
Upon
was E
Bend,
inter
Housi
the x
amination of the bids it was determined that the low bid
mitted by the St. Joseph Bank and Trust Company of South
ndiana, calling for no premium payment and a rate of
t of 1.88% per annum. The bids were telephoned to the
& Home Finance Agency in Chicago and approval was given to
of St. Joseph Bank and Trust Company.
There
advis
Trust
ipon Edwin L. Davies, Controller of the City of South Bend,
�d that he would forthwith wire the St. Joseph Bank and
Company of the acceptance of their bid,
/ r
H oward Bellina,,dr
Assistant Director