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JEFFERSONVILLE REDEVELOPMENT COMMISSION
RESOLUTION NO. 020O~- D l
WHEREAS, the Jeffersonville Redevelopment Commission ("Commission") approved a
lease bearing the date of November 1, 1990, as amended, between the Jeffersonville
Redevelopment Authority ("Authority"), as Lessor, and the Commission, as Lessee; and
WHEREAS, it is in the best interests of the Commission to direct the Authority to take all
steps necessary to prepare for a refunding which will result in an interest cost savings over the
life of the issue;
NOW, THEREFORE, BE IT RESOLVED, that the Commission approves of the
1
refunding and directs the Authority to work with H.J. Umbaugh & Associates as financial
advisor and Ice Miller as bond counsel to effect the refunding in order to accomplish a net
savings of at least $110,700
BE IT FURTHER RESOLVED, that the officers of the Commission have the full and
complete authority to execute any and all other documents necessary to accomplish the
refunding, including a Continuing Disclosure Undertaking Agreement.
This resolution adopted on the day of April, 2004.
JEFFERSONVILLE REDEVELOPMENT
AUTHORITY
President
ATTEST:
Secretary
I~,'DY 1350432v1
1.
EXCERPTS OF MINUTES OF A MEETING OF
THE JEFFERSONVILLE REDEVELOPMENT COMMISSIOl~
A meeting of the Jeffersonville Redevelopment Commission ("Commission")was held at the
City-County Building, Jeffersonville, Indiana on April jam, 2004 at ~ : 3~ 1~m. (Local Time),
pursuant to notice duly given in accordance with IC 36-7-14 and IC 5-14-1.5, and the rules of the
Commission.
The meeting was called to order by the President of the Commission.
On call of the roll, the members of the Commission were present or absent as follows:
Present:
~~
Absent: ~ ~ _
~/
~~/~ ~ /,
Mr. Lesley Merkley, City Attorney, was also present at the meeting.
A maj ority of the members present, ,the President presided, and
he Secretary, kept the minutes of the meeting.
The minutes of the last meeting were read and, upon motion duly made, seconded and
carved, the minutes of the previous meeting were approved.
A representative of H.J. Umbaugh & Associates, the City's financial advisor, gave the
Commission an update of the municipal bond market conditions and the current potential of
refunding the Jeffersonville Redevelopment Authority Lease Rental Refunding Revenue Bonds,
Series 1996, which will result in an interest cost savings over the life of the issue. Buddy Downs of
rNDY 13~0133v1
Ice Miller, bond counsel, explained the course of proceedings required to be taken in order to effect
the refunding.
' a moved that Resolution No. a °°~{"~~_ be adopted.
c ~
seconded the motion. Resolution No. o'~ DD ~'DI was adopted by
a vote of ~ ayes and ~ nays.
There being no further business to come before the meeting, the meeting was adjourned.
Secretary
ATTEST:
re
~,
INDY 1350133v1