Oh yeah, otherwise, yeah.

Okay.

Yeah, we have a sheet for it.

Yeah.

Yeah.

Yeah.

Okay.

Yeah.

Yeah.

Yeah.

Well, I think we're going to get started.

Can everybody hear me?

Okay.

Then I'll whisper more.

Anyway, I want to wake up welcome everybody.

To the August twenty-five meeting.

The Board of Indianapolis local public improvement bond.

Um we have a quorum.

And uh so the Indiana open door policy is been approved.

And the first thing we want to do is approve the minutes of the June 16th meeting.

Uh it was held.

And uh does any is everybody reviewed it or do they have any issues with the January June 16th corrections to the minutes?

No.

Uh Mr.

Chairman, I move to approve the minutes from the June 16, 2025 meeting as uh presented.

Request a second.

Second.

All in favor say aye.

Aye.

Aye.

Aye.

Motion passed.

So now we move to our agenda dealing with the resolution number two, which is a um authorization for uh the issuance of the 2025 C bonds in order to refund the 2010 A-2 bonds, which are the Bill America bonds that are issued by the federal government with an original aggregate principal amount, not to exceed 150 million dollars, but I think it's gonna exceed that.

So it's not going to exceed more than 345 million dollars with a maximum interest rate of 6.5 percent.

And uh so I'm seeking a motion to approve the issuance of the 2010 A-2 Build American Bonds, uh, and I'll call for uh Joe to talk about it.

Sure, Mr.

Chairman, with your permission, I'll go ahead and speak to resolution two and number three simultaneously.

So these uh bonds were issued um back in 2010 um following the uh voter uh referenda that approved the construction of what is now known as Eskenazi Hospital.

Uh these bonds were uh what were known as build uh America bonds, as the chairman noted.

Um these were part of the 2009 American reinvestment and recovery act.

Um they allowed a municipal issuers to issue a taxable debt, but the federal government agreed to subsidize a portion of the interest on the repayment of those bonds.

Um as a result of sequestration, um the subsidy on those bonds have uh from the federal government have decreased, um, and as a result, the Health and Hospital Corporation has paid about $500,000 million dollars more in debt service um annually on on these series of bonds uh than originally anticipated.

So, what these two will refundings will do will provide more certainty on debt service going forward.

Um they will also allow um health and hospital corporation to uh tap into a cash-funded debt service reserve, um, which uh they would um anticipate realizing at the end of the term, but now um they will replace the cash debt service reserve with a surety, and so they will be able to access um the 30 plus million dollars um in that reserve.

Uh so these two um these two are issuances have been approved by um the uh city county council as well as uh health and hospital corporation board um and the um Indianapolis Marion County Building Authority Board.

So this will be the last stop for approval on uh these um refunding bonds, and happy to answer any questions that the board has.

Thank you, Joe.

Um just to remind everybody what we're dealing with.

We have the resolution two uh dealing with the um the bonds that were issued in 2000 and when we approve those two thousand twenty-five this year, C bonds, and uh we're gonna refund the two thousand and get it in order to refund two thousand and ten a bonds, and that's not to exceed 150 million dollars.

Then we have resolution three where uh we're dealing with the res the issuance of a 2025 D bonds in order to refund the 2010 B2 bonds, the build-back America bonds, and that's gonna be for an amount not to exceed 345 million dollars.

The interest rates on both those resolutions is 6.5 percent.

And uh so now I'll ask for approval of these two agreements related to the issuance from the members of the board.

Question Joe, can you be voted on together or do they have to be two separate votes?

Um I would defer to bond council.

Can we can these be taken together?

I'd probably do them separately.

Okay, thank you.

Yes, so why don't why don't we start with uh resolution uh number two?

So we're doing our resolution that's my mistake.

I thought we could take them together, but what we'll go ahead and do them separately.

So starting with resolution number two.

Okay, I would move to pass resolution number two, which is the authorization of 2025 C bonds in order to refund the 2010 82 BABS bonds, 150 million dollar total resolution two, so moved.

Is there any discussion from the board regarding the resolutions?

Second.

Well, if there's no discussion, we'll move for a motion to vote, which ms Dr.

Mr.

Short just made.

Uh and I request a second.

Second.

Okay.

A motion has passed.

We have our two votes with three votes.

No, we have to vote.

You have to we didn't vote yet.

Yeah, we have to vote.

So the state resolution number three is approved.

Uh and resolution number two.

Sorry, Mr.

Chairman.

I think I think we need a vote.

So we have a uh motion and a second on resolution number two, and I think we need to just need a vote of the board.

Yeah, yeah.

Aye.

Aye.

Motion passed.

Uh I think that's all we have as far as bond movement today.

But so I'm gonna introduce Mr.

Chairman.

I I apologize.

I I confused this from the beginning.

So we we have approval for resolution number two, so now we would need um a motion uh to support resolution number three and to vote on resolution number three.

So I I apologize for confusing that at the beginning.

I think we had a motion for resolution three.

We didn't okay.

So moved.

I'll second the resolution number three.

All in favor, aye.

Motion passed.

So both resolution three and two have been passed.

So moving forward, uh I think we're gonna have a discussion from our leader.

So uh Mr.

Glass is gonna talk about the bomb bank moving forward.

Thank you, Mr.

Chairman.

Um, so um at uh the previous uh um city county council meeting, uh resolutions were introduced for the issuance of general obligation bonds.

Um those will be used to finance uh the purchase of a new uh tornado warning system, a new IFD fire station, as well as uh street improvement equipment in an amount not to exceed 21 uh million dollars total.

Um we will come back uh to the bond bank board for approval uh likely in October, um, but we'll be working our way through through council approval um up till uh that point.

Uh we also anticipate uh bringing uh before the board approval of uh bonds related to the uh reconstruction of old city hall, um which is a part of the TWG uh development at that site.

Um we will likely bring that either in September or October and we'll keep the board apprised of uh developments there.

And I believe those are only updates and happy to answer any questions.

Anybody have any questions for Joe?

I think it's gonna start the top start act and get things rolling for the uh fall, and uh we got some things on the table, which is good.

Um so since there isn't any other issues on our agenda, uh is there a motion to adjourn?

So moved.

Second, all in favor say aye.

Aye aye.

Motion passed.

Uh thanks everybody for coming.

And um well, hopefully we'll see you next month.