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REGULAR MEETING DECEMBER 16, 1985
<br />BILL NO. 136 -85
<br />A BILL OF THE CITY OF SOUTH BEND, INDIANA, RE: $11,000,000 CITY
<br />OF SOUTH BEND, INDIANA, MULTI - FAMILY HOUSING REVENUE BONDS (THE
<br />RAINTREE POINT APARTMENTS PROJECT) 1985 SERIES.
<br />BILL NO. 139 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BOND, SERIES 1985
<br />(O'BRIEN CORPORATION PROJECT), IN THE AGGREGATE PRINCIPAL AMOUNT
<br />OF TWO MILLION DOLLARS ($2,000,000.00) AND APPROVING AND
<br />AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO.
<br />BILL NO. 160 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1985
<br />(INDUSTRIAL FUELS AND RESOURCES, INC., PROJECT), IN THE AGGREGATE
<br />PRINCIPAL AMOUNT OF APPROXIMATELY SEVEN HUNDRED FIFTY THOUSAND
<br />DOLLARS ($750,000.00) AND APPROVING AND AUTHORIZING CERTAIN
<br />ACTIONS WITH RESPECT THERETO.
<br />BILL NO. 163 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY ")
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1985
<br />(ENTERPRISE ASSOCIATES, AN INDIANA PARTNERSHIP PROJECT), IN THE
<br />AGGREGATE PRINCIPAL AMOUNT OF SEVEN HUNDRED TWENTY -EIGHT THOUSAND
<br />THREE HUNDRED DOLLARS ($728,300) AND APPROVING AND AUTHORIZING
<br />CERTAIN ACTIONS WITH RESPECT THERETO.
<br />BILL NO. 164 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BOND, SERIES 1985
<br />(ALLIED PRODUCTS CORPORATION PROJECT), IN THE AGGREGATE PRINCIPAL
<br />AMOUNT OF ONE MILLION DOLLARS ($1,000,000.00) AND APPROVING AND
<br />AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO.
<br />BILL NO. 165 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1985
<br />(SOUTH BEND RESIDENCE ASSOCIATES, AN INDIANA PARTNERSHIP PROJECT)
<br />IN THE AGGREGATE PRINCIPAL AMOUNT OF FIVE MILLION DOLLARS
<br />($5,000,000.00) AND APPROVING AND AUTHORIZING CERTAIN ACTIONS
<br />WITH RESPECT THERETO.
<br />BILL NO. 166 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BOND, SERIES 1985
<br />(BOUGHTON PROJECT), IN THE AGGREGATE PRINCIPAL AMOUNT OF ONE
<br />MILLION DOLLARS ($1,000,000.00) AND APPROVING AND AUTHORIZING
<br />CERTAIN ACTIONS WITH RESPECT THERETO.
<br />BILL NO. 167 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY ")
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1985 (B &
<br />R INVESTMENTS, AN INDIANA PARTNERSHIP PROJECT), IN THE AGGREGATE
<br />PRINCIPAL AMOUNT OF THREE HUNDRED TWENTY -FIVE THOUSAND EIGHT
<br />HUNDRED DOLLARS ($325,800.00) AND APPROVING AND AUTHORIZING
<br />CERTAIN ACTIONS WITH RESPECT THERETO.
<br />This being the time heretofore set for public hearing on the above bill, proponents
<br />and opponents were given an opportunity to be heard. Kenneth Fedder, attorney for
<br />the Economic Development Commission, made the presentation for the bills. He
<br />indicated Bill No. 136 -85 should be amended in Section 3 by changing the name of the
<br />bank to The National Bank of Commerce, Memphis, Tenn. Council Member Voorde made a
<br />motion to accept the amendment, seconded by Council Member Puzzello. The motion
<br />carried. He indicated Bill No. 136 -85 was a bond issue to acquire, construct and
<br />equip a multi - family housing project in the East Bank Development Area. Council
<br />Member Taylor made a motion to recommend this bill to the Council favorable, as
<br />amended, seconded by Council Member Zakrzewski. The motion carried. Mr. Fedder
<br />indicated that Bill No. 139 -85 pertained to the O'Brien Corporation, who were
<br />planning to renovate a portion of the existing laboratory and manufacturing
<br />building, as well as purchase new equipment. Council Member Taylor made a motion to
<br />recommend this bill to the Council favorable, as amended, seconded by Council Member
<br />Zakrzewski. The motion carried. Mr. Fedder indicated that Bill No. 160 -85 was a
<br />bond issue for Industrial Fuels who planned to construct a new facility. He
<br />indicated two existing jobs will be saved and they anticipate 19 new jobs will be
<br />created. Council Member Taylor made a motion to recommend this bill to the Council
<br />favorable, seconded by Council Member Zakrzewski. The motion carried. Mr. Fedder
<br />indicated that Bill No. 163 -85 was a bond issue for Enterprise Associates who
<br />planned to acquire land and construct an office /warehouse facility. He indicated
<br />approximately fourteen to twenty -four jobs will be created. Council Member Taylor
<br />made a motion to recommend this bill to the Council favorable, as amended, seconded
<br />by Council Member Zakrzewski. The motion carried. Mr. Fedder indicated that Bill
<br />No. 164 -85 a bond issue for Allied Products who planned to purchase and rehabilitate
<br />the White Farm Equipment Company. he indicated 10 jobs would be saved and
<br />approximately 100 new jobs will be created. Council Member Taylor made a motion to
<br />recommend this bill to the Council favorable, as amended, seconded by Council Member
<br />Zakrzewski. The motion carried. Mr. Fedder indicated Bill No. 165 -85 was a bond
<br />issue for South Bend Residence Associates, who planned to construct a 64 unit inn.
<br />He indicated approximately 20 new jobs will be created. Council Member Taylor made
<br />a motion to recommend this bill to the Council favorable, as amended, seconded by
<br />Council Member Zakrzewski. The motion carried. Mr. Fedder indicated that Bill No.
<br />166 -85 should be stricken. Council Member Puzzello made a motion to strike,
<br />seconded by Council Member Taylor. The motion carried. Mr. Fedder indicated that
<br />Bill No. 167 -85 was a bond issue to purchase facilities at 1916 S. Main. He
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