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REGULAR MEETING May 9, 2022 <br /> <br />4 <br /> <br />Committee Chair Sheila Niezgodski stated the Bill No. 20-22 came out of the Personnel and <br />Finance Committee with a favorable recommendation and sent to the Committee of the Whole. <br />Council Member Lee requested the petitioner. <br />Randy Rompola, Attorney with Barnes and Thornburg, 201 S. Main St. stated the ordinance <br />amends the bond ordinance of 2007. Rompola stated this ordinance will change the interest rate in <br />calculation indenture LIBOR and to remove the manufacturing entity, PEI Genesis as a borrower <br />for existing bonds. The intent is to amend the Trust Indenture to bring it into compliance with <br />current interest rate calculations and then amend the loan agreement to remove the borrower. <br />Councilmember Lee requested comments from Council; Councilmember Lee continued to the <br />public hearing section. <br />Clerk Dawn Jones responded no one from the public is wishing to speak in favor or in opposition <br />of Bill No. 20-22. <br />Councilmember Lee entertained a motion for Bill No. 20-22. <br />Committee Chair Sheila Niezgodski motioned to send Bill No. 20-22 for passage to the full <br />Council with a favorable recommendation. <br />Committee member Karen White seconded. <br />Councilmember Lee requested roll call. <br />Clerk Dawn Jones responded with eight (8) ayes. <br />Councilmember Lee stated the motion carries: Bill No. 20-22 will be sent to the full Council for <br />passage. <br />RISE AND REPORT <br />Councilmember Canneth Lee entertained a motion to arise from the Committee of the Whole and <br />report back to the full Council; Councilmember Lee stated it has been moved and seconded and <br />requested roll call. <br />Clerk Dawn Jones responded with eight (8) ayes. <br />Councilmember Lee stated the motion carries. <br />REGULAR MEETING RECONVENED <br />BILLS ON THIRD READING <br />BILL NO. <br />15-22 THIRD READING ON AN ORDINANCE OF <br />THE COMMON COUNCIL OF THE CITY OF <br />THE SOUTH BEND, INDIANA, TO VACATE <br />THE FOLLOWING DESCRIBED PROPERTY: <br />ALLEY BETWEEN LOTS 4 & 5 OF <br />FUERBRINGER’S 1ST ADDITION. <br />President Sharon McBride requested a recommendation from the Committee of the Whole. <br />Councilmember Canneth Lee responded, Bill No. 15-22 comes to the full Council with a favorable <br />recommendation. <br />President McBride entertained a motion regarding Bill No. 15-22. <br />Councilmember Karen White motioned for passage. <br />Vice President Sheila Niezgodski seconded. <br />President McBride responded Bill No. 15-22 has been moved and seconded, and requests roll call. <br />Clerk Dawn Jones responded with eight (8) ayes. <br />President McBride stated Bill No. 15-22 has been adopted.