HomeMy WebLinkAboutNovember 16, 2011 meeting minutes
CARMEL REDEVELOPMENT AUTHORITY
MINUTES OF MEETING
Wednesday, November 16, 2011
Carmel City Hall Caucus Room
President Robert Bush called the meeting to order .Other Board members present were
Ike Batalis and Jack Badger constituting a quorum. Also in attendance: Loren Matthes,
Umbaugh and Heidi Amspaugh, Umbaugh The support person in attendance was Lisa
Stewart
.
RESOLUTION
Resolution No. 2011-1 of the City of Carmel Redevelopment Authority authorizing
the issuance of its lease rental revenue refunding bonds of 2011 and approving
certain matters related thereto.
PURPOSE: Due to the favorable market conditions, the CRA would like to refund
all of the outstanding 2004 bonds to procure a savings on the interest cost. This will
be designated as Carmel Redevelopment Authority Lease Rental Review Refunding
Bonds of 2011. This shall not exceed $29,500,000.
Loren Matthes gave an overview of the financial implications.
The Authority voted 3-0 to approve the Resolution.
Signatures are on official documents
Lisa M. Stewart – Support Staff