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9.07.17 MEETING MINUTES II THE CITY OF CARMEL LOCAL PUBLIC IMPROVEMENT BOND BANK MEETING MINUTES Tuesday,September 7, 2017—6:00 P.M. Department of Community Services Conference Room One Civic Square BOARD MEMBERS PRESENT Anna Stout,James Eibel,John Schuler,Frank Abercrombie and Jarvis Jointer OTHERS PRESENT Christine Pauley, Executive Director of the Bond Bank and Clerk-Treasurer of the City of Carmel; Loren Matthes and Susan Borries Reed of H.J.Umbaugh&Associates; Bruce Donaldson of Barnes&Thornburg LLP; Ann Bingman,Director of Finance —Investments,Clerk-Treasurer's Office,City of Carmel. Christine S. Pauley,Clerk Treasurer of the City of Carmel,called the meeting to order at 6:06 p.m.and recognized a quorum of the Board present. OLD BUSINESS None NEW BUSINESS 1. Consideration and approval of the minutes of the Bond Bank Board meeting held on June 1,2017. 2. Ms.Matthes provided an update on the Midtown West bond issuance. Midtown West will be issued by the City of Carmel for$12.9 million and is estimated to go to market in Mid-October. No formal action is required to be taken by the Carmel Bond Bank. 3. Ms.Matthes discussed the results of the Midtown South sale.The pricing desk obtained good rates,saving$250,000 more than anticipated. The bond is a 25-year taxable issue. 4. Ms.Matthes provided attendees with a pie chart that explained the various cost allocations of the bond proceeds related to the Multipurpose Bonds,Series 2016 issuance. 5. Ms.Bingman discussed the services and pricing with regard to two vendors for the Carmel Bond Bank Seal.A motion authorizing using Wilkinson Brothers was passed by the Board. 6. Ms.Reed presented a Carmel Debt Policy Overview. She also discussed the draft of the City of Carmel Bond Bank Debt Management Policy and requested any additional comments be sent to her within two weeks. Mr.Donaldson recommended incorporating language in the debt policy regarding a sunset provision for future bond issuance approvals. OTHER BUSINESS Ms.Matthes discussed the upcoming bond issuances: Tax-Exempt Lease Rental Revenue Bonds,Series 2017B(LIT Supported Multipurpose);Taxable Lease Rental Revenue Bonds,Series 2017C(LIT Supported Hotel); Taxable Lease Rental Bonds,Series 2017D(TIF Supported Multipurpose)and Taxable Lease Rental Bonds,Series 2017E(TIF Supported Hotel). ANNOUNCEMENTS None ADJOURNMENT There being no further business to come before the Board,the meeting was adjourned at approximately 7:31 p.m. APPROVED Approved and adopted this 30th day of October, 2017,in Carmel, Indiana. THE CITY OF CARMEL LOCAL PUBLIC IMPROVEMENT BOND BANK 0 � t . Anna Stout,Chair g460-1,14- Jarvis Jointer,Vice-Chair ( mss (_ � John Schuler Frank Abercrombie James EibeI ATTEST: --/ if `--Christine S. Pauley,Clerk-Treasurer/f cl