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REGULAR MEETING
<br />SEPTEMBER 24, 1984
<br />There being no further business to come before the Committee of the Whole, Council
<br />Member Taylor made a motion to rise and report to the Council, seconded by Council
<br />Member Beck. The motion carried.
<br />ATTEST:
<br />City Clerk
<br />REGULAR MEETING RECONVENED
<br />ATTEST:
<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 7:22 p.m. Council
<br />President Beck presiding and nine members present.
<br />BILLS, SECOND READING
<br />ORDINANCE NO. 7383 -84
<br />AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND, INDIANA
<br />(THE "CITY "), TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE
<br />BONDS, SERIES 1984 (1818 REALTY, AN INDIANA PARTNERSHIP PRO-
<br />JECT), IN THE AGGREGATE PRINCIPAL AMOUNT OF EIGHT HUNDRED
<br />THIRTY THOUSAND DOLLARS ($830,000.00) AND APPROVING AND
<br />AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO.
<br />This bill had second reading. Council Member Taylor made a motion to amend this
<br />bill, as amended in the Committee of the Whole, seconded by Council Member Crone.
<br />The motion carried. Council Member Taylor made a motion to pass this bill, as amended,
<br />seconded by Council Member Braboy. The bill passed by a roll call vote of nine ayes.
<br />ORDINANCE NO.. 7384 -84
<br />AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND, INDIANA
<br />(THE "CITY "), TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE
<br />BONDS, SERIES 1984 (CROWE, CHIZEK AND COMPANY PROJECT), IN
<br />THE AGGREGATE PRINCIPAL AMOUNT OF FOUR MILLION TWO HUNDRED
<br />THOUSAND DOLLARS ($4,200,000.00) AND APPROVING AND AUTHORIZING
<br />CERTAIN ACTIONS WITH RESPECT THERETO.
<br />This bill had second reading. Council Member Taylor made a motion to pass the bill,
<br />seconded by Council Member Braboy. The bill passed by a roll call vote of nine ayes.
<br />ORDINANCE NO. 7385 -84 AN ORDINANCE APPROPRIATING $17,000.00 FROM THE COMMUNITY
<br />DEVELOPMENT BLOCK GRANT FUND FOR THE SECURE BUILDING AND
<br />DEMOLITION PROGRAM OPERATED BY THE DEPARTMENT OF CODE ENFORCEMENT.
<br />This bill had second reading. Council Member Braboy made a motion to pass the bill,
<br />seconded by Council Member Serge. The bill passed by a roll call vote of nine ayes.
<br />RESOLUTIONS
<br />RESOLUTION NO. 1203 -84
<br />AN INDUCEMENT RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA,
<br />RELATING TO: MITTLER SUPPLY, INC. PROJECT.
<br />WHEREAS, at the present time there are insufficient employment opportunities and
<br />insufficient diversification of business, commerce and industry in and near the City
<br />of South Bend, Indiana (the "City "); and
<br />WHEREAS, the economic welfare of the City would be benefited by the acquisition
<br />and construction of economic development facilities in the corporate limits of the
<br />City pursuant to the provisions of Indiana Code 36 -7 -12 (the "Act "); and
<br />WHEREAS, Mittler Supply, Inc., which is an Indiana corporation, proposes to
<br />acquire and construct economic development facilities in South Bend, Indiana as defined
<br />in the Act if the City will finance costs of such economic development facilities
<br />pursuant to the Act; and
<br />WHEREAS, the South Bend Economic Development Commission has received an application
<br />by Mittler Supply, Inc., for the issuance of City of South Bend Industrial Development
<br />Revenue Bonds in the approximate principal amount of One Million Eight Hundred Thousand
<br />and no /100 Dollars ($1,800,000.00), to be repaid at market rates, with the proceeds
<br />of the bonds being used to acquire economic development facilities to be based and
<br />located in South Bend, Indiana, which will result in the cration of new jos in and
<br />near South Bend, Indiana.
<br />NOW, THEREFORE, the Common Council of the City of South Bend, Indiana resolves
<br />as follows:
<br />1. The project constitutes economic development facilities which shall be financed
<br />by the City through the issuance of revenue bonds pursuant to the Act and the City is
<br />willing, upon compliance with all provisions of Indiana law, to authorize approximately
<br />One Million Eight Hundred Thousand and no /100 Dollars ($1,800,000.00) of its revenue
<br />bonds, which bonds will not be general obligations of the City but will be payable
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