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REGULAR MEETING OCTOBER 24, 2011 <br /> <br /> <br /> <br /> <br />REGULAR MEETING RECONVENED <br />Be it remembered that the Common Council of the City of South Bend reconvened in the <br />Council Chambers on the fourth floor of the County-City Building at 7: 12 p.m. President <br />Derek Dieter presided with seven (7) members present. <br /> <br /> <br />BILLS – THIRD READING <br /> <br />ORDINANCE NO. 10127-11 AN ORDINANCE OF THE COMMON COUNCIL <br />OF THE CITY OF SOUTH BEND, INDIANA, <br />AUTHORIZING THE CITY OF SOUTH BEND <br />TO ISSUE ITS ECONOMIC DEVELOPMENT <br />REVENUE BONDS OF 2011 AND APPROVING <br />AUTHORIZING OTHER ACTIONS IN RESPECT <br />THERETO $1,500,000 SOUTH BEND <br />ECONOMIC DEVELOPMENT REVENUE <br />BONDS, SERIES 2011 SOUTH BEND CAREER <br />ACADEMY PROJECT <br /> <br />This bill had third reading. Councilmember Puzsello made a motion to pass this bill. <br />Councilmember Varner seconded the motion which carried. The bill passed by a roll call <br />vote of seven (7) ayes. <br /> <br /> <br />RESOLUTIONS <br /> <br />BILL NO.11-57 A RESOLUTION SUPPORTING THE <br />INVESTMENT OF CAGIT, TIF, UDAG AND <br />CEDIT MONIES IN THE CHASE TOWER IN <br />DOWNTOWN SOUTH BEND <br />Councilmember Henry Davis made a motion to continue this bill until the November 14, <br />2011 meeting of the Council. Councilmember Kirsits seconded the motion which carried <br />by a voice vote of seven (7) ayes. <br /> <br /> <br />RESOLUTION NO. 4123-11 A RESOLUTION OF THE COMMON COUNCIL <br />OF THE CITY OF SOUTH BEND, INDIANA, <br />PROVIDING PRELIMINARY APPROVAL OF <br />THE ISSUANCE OF BONDS FOR THE <br />PURPOSE OF PROVIDING FINANCING OF <br />CERTAIN ECONOMIC DEVELOPMENT <br />FACILITIES $1,500,000 SOUTH BEND <br />ECONOMIC DEVELOPMENT REVENUE <br />BONDS, SERIES 2011, SOUTH BEND CAREER <br />ACADEMY PROJECT <br /> <br />WHEREAS, the City of South Bend, Indiana (the “City”) is authorized by I.C. <br />36-7-11.9 and 12, as supplemented and amended (the “Act”), to issue revenue bonds for <br />the financing of economic development facilities, the funds from said financing to be <br />used for the acquisition, construction, installation and equipping of said facilities, and <br />said facilities to be either leased to another person or directly owned by another person; <br />and <br /> <br />WHEREAS, South Bend Career Academy, Inc., an Indiana not-for-profit <br />corporation, or its assigns (the “Applicant”) has requested of the South Bend Economic <br />Development Commission (the “Commission”) and the City issue and sell its economic <br />development revenue bonds (the “Bonds”) for the purpose of providing financing to the <br />Applicant in an amount not to exceed $1,500,000 of certain economic development <br />facilities consisting of the acquisition, construction, installation and equipping of a <br />building and related facilities consisting of a 106,000 square foot charter school located at <br /> 3 <br /> <br />