The Public Securities Association yesterday announced that it will present its first Distinguished Public Service Award to Rep. Dan Rostenkowski at its first annual awards dinner.

The dinner will be held at the Pierre Hotel in New York City on Sept. 30.

Mr. Rostenkowski, the Illinois Democrat who is chairman of the House Ways and Means Committee, has "demonstrated his appreciation for the value of public finance by supporting such initiatives as passenger facility charges; the extension of expiring provisions relating to mortgage revenue bonds, industrial development bonds, and the low-income housing tax credit; and, most recently, the proposed 1991 Tax Simplification Act," said Ralph Horn, chairman of the PSA.

The trade group said that at the same ceremony it will also honor four of its founders of 15 years ago: Walter E. Chambers, president and chief executive officer of the Ohio Co.; Gedale B. Horowitz, a senior executive director with Salomon Brothers Inc.; Wallace O. Sellers, chairman of Enhance Reinsurance Co.; and David G. Taylor, group executive at Chemical Bank.

The PSA said it would present the distinguished service award annually to an individual who has had a significant impact on the public securities business while serving as a public official at the federal, state, or local level.

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