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Peter H. Mullen <br />Director, Administration and <br />Finance <br />Michael L. Vance <br />Chief Deputy Controller <br />CITY of SOUTH BEND <br />PETER J. NEMETH, Mayor. <br />COUNTY CITY BUILDING SOUTH BEND, INDIANA 46601 <br />October 17, 1979 <br />Members of the Council <br />South Bend Common Council <br />4th Floor County -City Building <br />Dear Council Members: <br />I am presenting a resolution <br />the October 22, 1979 Council <br />tion of the City's intent to <br />Housing Revenue Bonds. <br />219/284 -9483 <br />for your consideration at <br />Meeting which is a rea.ffirma- <br />issue Mortgage- Backed <br />As you will remember, the Council has previously passed <br />a resolution stating it's positive attitude in this <br />matter. As of yet, no federal or state legislation has <br />passed putting this idea formally into effect. <br />On the advise of Kirchner, Moore and Company, we feel <br />it is necessary to reaffirm the Council's position in <br />this matter and also set a limit or cap on the amount of <br />bonds the City would be willing to underwrite. The cap <br />chosen may be changed according to the Council's wishes. <br />If you have further questions, please feel free to contact <br />my office. <br />incerely, <br />Peter H. Mullen <br />City Controller <br />PHM /bkn <br />