MINUTES OF

THE INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK

Minutes of the Special Meeting of the Board of Directors

March 31, 2008

MEMBERS PRESENT: Briane House

Fred Miller

Sahara Williams

BOND BANK PRESENT:

John Kirkwood, Krieg Devault

Curt Fritsch, CRF Financial Group

Terry Leffew, Raymond James

Diana Hamilton, Sycamore Advisors

Dennis Otten, Bose McKinney

David Lewis, Chase

Kostas Poulakidas, Kreig DeVault

Sharon Karst, BNY

Bob Kocher, BNY

Ann Forey, USB

Sandra Mowell, Citizen

Sue Beesley, Bingham McHale

Jason Roetgerman, Chase Bank

Angie Steeno, Crowe Chizek

Jim Merten, City Securities

A Special Meeting of the Indianapolis Local Public Improvement Bond Bank (“Bond Bank”) convened at 12:00 noon, Monday, March 31, 2008 in the City-County Building, 200 East Washington Street, Suite 224 Indianapolis, Indiana, pursuant to notice given in accordance with IC 5-14-1.5. Mr. House called the meeting to order after determining that a quorum was present.

The first item on the agenda was the approval of the minutes. Mr. House asked the Board for approval of the February, 25, 2008 meeting minutes. Mr. Miller made the motion to approve, seconded by Ms.Williams. All voted in favor and the motion passed.

Mr. Taylor next introduced a proposal to constitute working groups within the Bond Bank in order to address various policies and issues on behalf of the Bond Bank. Mr. Taylor explained the proposal. Mr. House incorporated board members into each of the categories listed regarding the proposal. Mr. House suggested June 2008 board meeting for presentation and approval of the policies.

Mr. Taylor next introduced Dario Requiz, Project Manager, noting his hard work. The Board was updated on some future items that will come in the month of April 2008. The Bond Bank will be working on the financing for the J. W. Marriott Convention Center Expansion Hotel. Mr. Taylor will be in talks with the Metropolitan Development Commission regarding the hotel expansion project and proposal for their consideration. Another item for the Bond Bank Board to consider will be the a bond issuance for Waterworks.

The County is working toward replenshing funds that were used to pay a note for the county election equipment which was due March 1, 2008. There may be a bond issuance for reimbursement for that BAN.

Mr. House discussed having a working meeting regarding operational procedural matters prior to the next board meeting. There were no other matters for discussion. Ms. Williams made the motion to adjourn, seconded by Mr. Miller. All voted in favor and the motion passed.

Mr. Briane House adjourned the meeting at 12:15 p.m.