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4 <br />f <br />REGULAR MEETING <br />MARCH 2, 1984 <br />Be it remembered that the Common Council of the City of South Bend met in the Council <br />Chambers of the County -City Building on Friday, March 2, at 12:30 p.m. The meeting <br />was called to order and the Pledge to the Flag was given. <br />ROLL CALL Present: Council Members Serge, Braboy, Puzzello, Taylor, <br />Zakrzewski, Crone, and Beck <br />Absent: Council Members Paszek and Voorde <br />Council Member Taylor <br />made a motion to permit filing of Bill No. 20 -84, seconded by <br />Council member Zakrzewski. The motion carried on a roll call vote of seven ayes. <br />BILLS, FIRST READING <br />BILL NO. 20 -84 <br />AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF $850,000 <br />ECONOMIC DEVELOPMENT REVENUE BONDS OF THE CITY OF SOUTH <br />ORDINANCE NO. 7308 -84 <br />BEND, INDIANA, FOR THE PURPOSE OF ACQUIRING LAND, <br />IMPROVEMENTS THEREON AND RELATED PROPERTY COMPRISING <br />ECONOMIC DEVELOPMENT FACILITIES LOCATED IN THE CITY FOR <br />LEASE AND SALE TO ALLIED PRODUCTS CORPORATION; AUTHORIZING <br />EXECUTION OF A LEASE AGREEMENT; PROVIDING FOR THE PLEDGE OF <br />REVENUES AND RENTAL INCOME FOR THE PAYMENT OF THE BONDS; <br />AUTHORIZING MORTGAGE AND INDENTURE OF TRUST APPROPRIATE FOR <br />THE PROTECTION AND DISPOSITION OF SUCH REVENUES; AND <br />AUTHORIZING THE TERMS AND SALE OF SAID BONDS. <br />This bill had first reading. Council Member Crone made a motion to suspend the rules <br />to have second reading and public hearing on this bill, seconded by Council Member <br />Beck. The motion carried on a roll call vote of seven ayes. This being the time <br />heretofore set for public hearing on this bill, proponents and opponents were given <br />an opportunity to be heard. Kenneth Fedder, attorney for the Economic Development <br />Commission, made the presentation for the bill. He indicated that Allied was requesting <br />a bond issue for $6,500,000 to purchase a portion of the leased complex, to renovate <br />and purchase additional equipment. Council Member Serge made a motion to pass the <br />bill, seconded by Council Member Taylor. The bill passed by a roll call vote of <br />seven ayes. <br />There being no further business to come before the Council unfinished or new, Council <br />Member Taylor made a motion to adjourn, seconded by Council Member Crone. The motion <br />carried and the meeting was adjourned at 12:46 p.m. <br />ATTEST: <br />City Clerk <br />APPROVED: <br />i ent <br />