HomeMy WebLinkAboutSM -8-05-86August 5,
12:00 noon
Presiding i
1. ROLL
Legal C
Redevel
City Co.
News Me,
Others:
2. NEW BUS
The Cha
Control
Commiss
the sal
1986.
SOUTH BEND REDEVELOPMENT COMMISSION
SPECIAL MEETING
86 1200 County -City Building
227 W. Jefferson Boulevard
ficer: Mr. F. Jay Nimtz South Bend, Indiana 46601
President
Present:
Mr.
F. Jay Nimtz, President
Mr.
Roman J. Piasecki, Secretary
Mr.
Sandy Ccmbs, Member
Absent:
Ms.
Paula Auburn, Vice President
Mr.
Michael Donoho, Assistant Secretary
,unsel:
Ms.
Eugenia Schwartz
�pment Staff:
Mr.
Jon R. Hunt, Executive Director
Mrs.
Ann Kolata, Executive Deputy Director
Ms.
Denise Sullivan, Office Manager
Ms.
Loren Rooney, Econ. Dev. Specialist
troller:
Mr.
Michael L. Vance
.ia:
Ms.
Jeanne Derbeck, South Bend Tribune
Mr.
Joe Garrett, City Securities Corp.
Mr.
Richard Hill, Parker & Jaicomo
Ms.
Jan Harman, Parker & Jaicomo
Mr.
Richard Treptow, Springsted, Inc.
recognized Mr. Michael Vance, City
r. Mr. Vance noted that the
n had received two bids relating to
of Tax Increment Financing Bonds of
opened and read the following bids:
Shearso Lehman Bros. $1,950,969.50
City Securities Corp. $1,912,512.50
Mr. Ric and Treptow, Springsted, Inc., stated
that both bids received were good bids and
that he would call the bid rates into the
Springsted office to verify the calculations.
Mr. Treptow also commented that the bonds
receivel a AAA rating from the AMBAC insurance
company.
Net Effective Rate
7.977794%
7.8205%
South Bend Redevelopment Commission
Special Meeting - August 5, 1986
2. NEW BUSINESS (Cont.)
Mr. Van e recommended the bid award go to City
Securities based on the low bid, subject to
verific tion by the financial consultant,
Springs ed, Inc.
Upon atnotion made by Mr. Piasecki, seconded
by Mr, Combs and unanimously carried, the
Commission awarded the bid City Securities
Corp., ubject to mathematical verification of
the bid.
The Char recognized Mr. Joseph Garrett. Mr.
Garrett on behalf of City Securities, thanked
the Comnission for the bid award.
Mr. Tre tow returned stating that the bid rate
from Ci y Securities had been checked and was
accurate as submitted.
Mr. Ric rd Hill noted that the closing on the
bonds will be scheduled as soon as possible
allowino the printing of the bonds prior to
Sept r 1, 1986.
3. NEXT COMMISSION MEETING
Mr. Nim z noted that the next Regular Meeting
of the ommission will be held on Friday,
August 3, 1986.
4.
There being no further business to come before
the Conmission, Mr. Combs made a motion that
the meeting be adjourned. Mr. Piasecki
seconded the motion and it was unanimously
carried The meeting was adjourned at 12:17
p.m.
_.
IL
-2-
i
COMMISSION AWARDED THE BID
TO CITY SECURITIES CORP
SUBJECT TO MATHEMATICAL
VERIFICATION OF THE BID
NEXT COMMISSION MEETING
of.��Ar4'.
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