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REGULAR MEETING SEPTEMBER 28, 2009 <br /> <br /> <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this bill. Councilmember Dieter made a motion for favorable <br />recommendation to full Council concerning this bill. Councilmember Oliver Davis <br />seconded the motion which carried by a voice vote of nine (9) ayes. <br /> <br /> <br />BILL NO. 76-09 PUBLIC HEARING ON A BILL OF THE <br /> COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND, INDIANA, AMENDING CHAPTER 2, <br /> ARTICLE 14, OF THE SOUTH BEND <br /> MUNICIPAL CODE TO CREATE A SEWAGE <br /> WORKS DEBT SERVICE RESERVE FUND <br /> (#653), TRANSFERRING TO FUND #653 THE <br /> TOTAL SUM OF $4,541,322 FROM VARIOUS <br /> FUNDS, APPROPRIATING THE SUM OF <br /> $4,541,322 WITHIN FUND #653 FOR SEWAGE <br /> WORKS BOND DEBT SERVICE RESERVE <br /> OBLIGATION, AND CLOSING FUND #650 <br /> <br />Councilmember Oliver Davis, Chairperson, Utilities Committee, reported that this <br />committee held a Public hearing on this bill this afternoon and sends this bill to the full <br />Council with no recommendation due to the lack of a quorum. <br /> <br />th <br />Mr. Gilot, Director, Public Works, 13 Floor County-City Building, 227 W. Jefferson <br />Blvd., South Bend, Indiana, made the presentation for this bill. <br /> <br />Mr. Gilot advised that this bill creates a new, separate Fund #653 to hold Sewage Works <br />bond debt service reserve monies which are required under the sewage works bonds. The <br />bill will codify the creation of this fund within a new Section of the South Bend <br />Municipal Code. A separate fund was recommended to create clear accounting and <br />tracking of these monies. He stated that this bill also allows for the transfer from various <br />Sewage Works Funds in the total sum of $4,541,322 which is required to satisfy the City <br />Sewage Works bond debt service reserve requirements through 2009 and part of 2010 <br />pursuant to bond documents. The bill then appropriates the transferred monies for debt <br />service reserve purposes. He stated that finally one of the funds from which monies are <br />to be transferred for debt service reserve appropriation is Clay Sewage General Fund <br />#650. This fund should be closed because it is no longer needed. <br /> <br />This being the time heretofore set for the Public Hearing on the above bill, proponents <br />and opponents were given an opportunity to be heard. <br /> <br />Councilmember Henry Davis stated that another fund needs to be added for incidental <br />claims regarding sewage back-up in Residential Homes. <br /> <br />Mr. Gilot stated that he would defer to Legal for the liability, this really is not in his area <br />of engineering. He urged everyone to have a check valve in place. <br /> <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this bill. Councilmember Dieter made a motion for favorable <br />recommendation to full Council concerning this bill. Councilmember Oliver Davis <br />seconded the motion which carried by a voice vote of nine (9) ayes. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 9 <br /> <br />