HomeMy WebLinkAboutMOM 11-21-63MEMO DUM OF MEETING OF OPENING OF BIDS FOR THE BOND ISSUE OF
1963 OR THE SOUTH BEND REDEVELOPMENT COMMISSION FOR THE CHAPIN
STREE PROJECT INDIANA R--29 AREA IN THE SUM OF $250,000.
2 P. Council Chambers
Nove er 21, 1963 City Hall
Mr. Baer made proof of publication of notice of the bond sale
held in the Record October 18 and 25, 1963; in the South Bend
Tribune October 21 and 28, 1963; in the Daily Bond Buyer October
23, 1963; and the Indianapolis Commercial, a legal and commercial
newspaper, publication on the 21st of October, 1963.
Amendments to the Bond Sale Notice were made as follows which
involved only the following:
First interest payment will be made January 1, 1965, rather -than
July 1., 1964.
Mr. Beer submitted proof of publication of the correction in the
Bond Buyer, November 15, 1963; Indianapolis Commercial, November
15, 1S63; Record, November 15, 1963, and twice in the South Bend
Tribune, November 16 and 18, 1963.
Bids vnere submitted as follows:
Name
Merrill Lynch, Pierce, Fenner &
Smith, Inc., Indianapolis
Ce tified check of $2500 submitted.
American Fletcher National Bank
Indianapolis
Cashiers check of $2500 submitted.
Indianapolis Bond & Share Corp.
Cas iers.check of $2500 submitted.
-1-
Premium Interest
$441.20 2 -3/4/
480.00 2 -3/4/
690.00 2 -7/8/
Braun Bosworth & Co., Toledo 77.50
Bonds, maturing 1/1/66 - 1/1/68, incl.
Bonds maturing 1/l/69
Bonds maturing 1/1/70
Certified check of $2500
Summation states interes
from November 1, 1963 to
de ucting premium offer,
in Brest.
submitted.
t cost on this bid
maturity, after
is 2,7116/ net
Raffe sperger, Hughes & Co.
In ianapolis 4.01.29
da hiers check of_$2500 submitted.
City _Securities Corporation, Indianapolis 270.00
This bid produces net interest cost of
2.E491%.
Certified check of $2500 submitted.
The N rthern Trust Company, Chicago 287.00
Computation as to effective rates
2.72244/
Cashiers check of $2500 submitted.
2 -3/4/
2 -5/8/
2 -3/4/
2 -3/4/
2-7/8/
2 -3/4/
After computation of bids submitted, it was determined that
American Fletcher National Bank of Indianapolis was awarded
the bid.
Henry Such
Executive Director