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v>r'hrf <br />1#^'Mb. <br />--.t - <br />MINUTES OP THE MEETING <br />OP THE HOUSING AMD REDEVELOPMENT AUTHORITY OF ORONO <br />HELD ON OCTOBER 14, 1991 <br />ROLL <br />The HRA Committee met on the above date with the following <br />members present: Chairperson Gabriel Jabbour, Barbara Peterson, <br />J, Diann Goetten, Edward Callahan, Charles Kelley, Ron Moorse and <br />Tom Barrett. Chairperson Jabbour called the meeting to order at <br />7:22 p.m. <br />Chairperson Jabbour noted the reason for the meeting was to call <br />for the sale of the bonds regarding the City facilities. He <br />noted a resolution has been drafted by the Bond Counsel, which <br />asked that proposals for bonds be returned by November 12, 1991. <br />Callahan noted that the repayment schedule on the bottom of the <br />resolution calls for interest-only payments until 1994, final <br />bond payment to be made in the year 2008, and a recall provision <br />set at 8 years. <br />Goetten noted that if passed, they will need to see a final draft <br />of the resolution with all appropriate blanks filled in. <br />Chairperson Jabbour noted that on November 12th the City will <br />receive the bids from various agencies. The HRA will meet at <br />6:30 p.m. on November 12, 1991 to accept or reject the bids. <br />Carolyn Drude, Financial Consultant, noted that the choices at <br />that time are to accept the bid offering at the lowest net <br />interest cost, or reject all of the bids. <br />Callahan reiterated that notice of this will be published in the <br />official newspaper. <br />It was moved by Callahan, seconded Hy Jabbour, to adopt <br />Resolution #91-1, calling for the sale of bonds to finance the <br />new City Hall facilities. Passed unanimously. <br />Chairperson Jabbour adjourned the meeting at 7:27 p.m. <br />V.V <br />\ 'v'r <br />ATTEST: <br />Gabriel Jabbour, Chair <br />Secretary