09-12-77 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 12, 1977 Be it remembered that the Common Council of the City of South Bend met in the Council Chambers of the County -City Building on Monday, September 12, 1977, at 7:00 p.m. Council President Roger O. Parent presiding. The meeting was called to order and the Pledge to the Flag was given. ROLL CALL PRESENT: Council Members Serge, Szymkowiak, Miller, Taylor, Kopczynski, Adams, Dombrowski, Horvath and Parent. ABSENT: None REPORT FROM THE SUB - COMMITTEE ON MINUTES Approval of the minutes will be made at the next meeting, in order that all changes in the City Budget may be amended. Council Member Adams made a motion to resolve into the Committee of the Whole, seconded by Counci Member Dombrowski. The motion carried. COMMITTEE OF THE WHOLE Be it remembered that the Common Council of the City of South Bend met in the Committee of the Whole on Monday, September 12, 1977, at 7:10 p.m., with nine members present. Chairman Frank Horvath presiding. BILL NO. 110 -77- A BILL APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO-MIDSTATE POWER TRANSMISSION COMPANY, INC. This being the time heretofore set for public hearing on the above bill, proponents and opponent: were given an opportunity to be heard. Mr. Kenneth Fedder, attorney for the Economic Development Commission, made the presentation for the bill. He said this was for expansion in the Industrial Development Park. He said there will be two new jobs created. He said representatives of the company were in the Chambers to answer any questions the Council might have. Council Member Szymkowiak made a motion to recommend this bill to the Council favorable, seconded by Council Member Dombrowski. The motion carried. BILL NO. 134 -77 A BILL APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO FBT BANCORP, INC., AND INDIANA CORPORATION (FBT BANCORP, INC., PROJECT.) This being the time heretofore set for public hearing on the above bill, proponents and opponentE were given an opportunity to be heard. Mr. Kenneth Fedder, attorney for the Economic Development Commission, made the presentation for the bill. He said this was for expansion in the Industrial Development Park. He said this was a reissue. He said the original bond was issued in November of 1973. He said the original bond will be paid off and the balance will be used to build an adjacent facility. He said there would be four additional jobs created. Council Member Szymkowi made a motion to recommend this bill to the Council favorable, seconded by Council Member Dombrou Council President Parent questioned Mr. Fedder regarding how a reissue was handled. Mr. Fedder explained how this type of bond was handled. Mr. Warren McGill, attorney for FBT Bancorp, in- dicated that approximately $597,000 will be used to pay off the existing bond and the difference will be used to build the new facility. The motion carried. BILL NO. 136 -77 A BILL APPROVING THE FORM AND TERMS.OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO DIXIE DEVELOPMENT PARTNERSHIP. This being the time heretofore set for public hearing on the above bill, proponents and opponent: were given an opportunity to be heard. Mr. Kenneth Fedder, attorney for the Economic Development. Commission, made the presentation for the bill. He said this was to construct a family restaurar at 52129 U. S. 31 North. He said the necessary County Council approval had been received. He said there will be forty -five new jobs created. He said there were personnel from the company, as well as their attorney, in the Chambers. Council Member Adams indicated this was the first time since she has been on Council that they have approved a bond for the county. She asked if there were sufficient moneys available for the City. Mr. Fedder indicated there was Economic Development moneys available for the City. Council Member Serge made a motion to recommend this bill to the Council favorable, seconded by Council Member Dombrowski. The motion carried.