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431 <br />REGULAR MEETING MAY 14, 1979 <br />REGULAR MEETING RECONVENED <br />Be it remembered that the regular meeting of the Common Council of-the City of South Bend re- <br />convened in the Council Chambers on the fourth floor of the County -City Building at 7 :17 p.m., <br />Council President Parent presiding and nine members present. <br />Council President Parent thanked Lillian Stanton for all the work she has done in the community. <br />He indicated that Dr. Stanton was moving out of the City. <br />BILLS, SECOND READING <br />ORDINANCE NO. 6577 -79 AN ORDINANCE APPROPRIATING $14,735.00 FROM THE FEDERAL <br />ASSISTANCE GRANT, COMMONLY REFERRED TO AS GENERAL REVENUE <br />SHARING, FOR VARIOUS PUBLIC WORKS PROGRAMS TO BE ADMINISTERED <br />BY THE CITY OF SOUTH BEND THROUGH ITS DEPARTMENT OF EMPLOYMENT <br />AND TRAINING. <br />This bill had second reading. Council Member Serge made a motion to pass this bill, seconded <br />by Council Member Dombrowski. The bill passed by a roll call vote of.nine ayes. <br />ORDINANCE NO. 6578 -79 <br />AN ORDINANCE APPROPRIATING $13,000.00 TO ACCOUNT 722.0, MOTOR <br />EQUIPMENT, FOR THE POLICE DEPARTMENT BUDGET IN THE GENERAL <br />FUND OF TIE'UITY OF SOUTH BEND, INDIANA. <br />This bill had second reading. Council Member Szymkowiak made a motion to pass this bill, seconde <br />by Council Member Miller. The bill passed by a roll call vote of nine ayes. <br />ORDINANCE NO. 6579 -79 <br />AN ORDINANCE APPROPRIATING INTEREST EARNED FROM THE PURCHASE <br />OF CERTIFICATES OF DEPOSIT OUT OF THE PROCEEDS OF THE 1977 <br />PARK DISTRICT BONDS TO THE PARK DISTRICT BOND CONSTRUCTION <br />FUND 50 IN THE AMOUNT OF $48,000.00. <br />This bill had second reading.. Council Member Serge made a motion to pass.this bill, seconded by <br />Council Member Dombrowski. The bill passed by a roll call vote of nine ayes. <br />ORDINANCE NO. 6580 -79 AN ORDINANCE APPROPRIATING $20,000.00 FROM THE FEDERAL <br />ASSISTANCE GRANT, COMMONLY REFERRED TO AS GENERAL REVENUE <br />SHARING, FOR THE ACQUISITION OF PROTECTIVE COATS FOR THE <br />SOUTH BEND FIRE DEPARTMENT. TO BE ADMINISTERED BY THE CITY <br />OF SOUTH BEND THROUGH ITS FIRE DEPARTMENT. <br />This bill had second reading. Council Member Dombrowski made a motion to pass this bill. seconder <br />by Council Member Adams. The bill passed by a roll call vote of nine ayes. <br />RESOLUTIONS <br />RESOLUTION NO. 697 -79 A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA. <br />WHEREAS, newly enacted legislation permits the issuance of mortgaged- backed housing revenue <br />bonds (the "Bonds ") by municipalities in the State of Indiana in order to finance residential <br />dwelling units; and <br />WHEREAS, Kirchner, Moore and Company has presented information and background material relat- <br />ing to the issuance of such bonds demonstrating that such bonds are in the best interest of the <br />City in providing adequate, safe, sanitary housing which persons of low and moderate income can <br />afford; and <br />WHEREAS, the City desires to issue such Bonds for the aforesaid purpose and desires to show <br />intent to do the same. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, <br />that: <br />SECTION I. The City agrees to issue such bonds and to sell the same to Kirchner, Moore and <br />Company and Local Underwriting firm or firms equally pursuant to the terms of a Bond Purchase <br />Agreement to be mutally acceptable to the City and Kirchner, Moore and Company and local under- <br />writing firm or firms. <br />SECTION II. The issuance of such Bonds is found to be for a public purpose, and shall <br />benefit the residents of the City. <br />SECTION III. The obligation of the City to issue such Bonds as set forth in Section I above <br />is subject to: (a) final approval of the issuance of such Bonds, (b) receipt of an unqualified <br />approving opinion with respect to such Bonds of nationally recognized bond counsel, which opinion <br />shall also be to the effect that interest on the Bonds shall be exempt from Federal taxation, and <br />(c) execution of a Bond Purchase Agreement between the City and Kirchner, Moore and Company and <br />local underwriting firm or firms. <br />SECTION IV. Kirchner, Moore and Company with the local underwriting firm or firms are to <br />select a recognized leader in the field to lead the underwriting tearms. <br />SECTION V. This resolution shall be in full force and effect from and after its adoption <br />by the Common Council and approval by the Mayor. <br />s/ Ro .-er 0. Parent <br />