Linda D. Eremita

Loretto: Linda Eremita of Pittsburgh, has been named a member of the Saint Francis University Board of Trustees.Eremita is currently managing director of National City Corporation.She heads the Higher Education Investment Banking Group of National City.She is also the manager of the Association of Independent Colleges and Universities of Pennsylvania (AICUP) Financing Program.She has worked for over 20 yearsin the banking industry and prior to that work, she was employed as a housing planner.Eremita is also president of the National Association of Housing and Redevelopment Officials, Pittsburgh Chapter.Eremita is a graduate of Duquesne University with a bachelor of arts degree in Speech Communications/Business.She is also a graduate of Boston University with a Master of Urban Affairs degree.

The $6.5 million in refunding savings -- on $197 million in bonds -- meets a 3 percent savings threshold for bond refinancings set forth in the Act 47 recovery plan, said city fiscal adviser Linda Eremita, managing director of National City Investments.

The refinancing "is not something you'd want to make a habit of, but something that is necessary for the next fiscal year," the city's financial adviser, Linda Eremita of PNC Capital Markets, told council at a budget hearing yesterday.

Councilman William Peduto, a member of Murphy's PGH 21 financial study panel, criticized the refinancing and said he would "try like hell" to find other revenues to make it unnecessary.

NatCity's managing director, Linda D. Eremita, serves as the city's financial adviser on the bond deal.Reached by phone Friday as she was boarding a plane, Eremita said she could not comment.

Murphy had high praise for Eremita, calling her the "pilot" on the refinancing deal.
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"My view is that Linda had confidence in them (Lehman Brothers), felt they had the expertise and the size, I guess, to be able to handle this bond issue," Murphy said.