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Authorizing submission of application for grant and loan assistance and repayment of industrial development fund
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Authorizing submission of application for grant and loan assistance and repayment of industrial development fund
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Last modified
5/15/2009 2:14:42 PM
Creation date
10/27/2008 2:33:19 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/23/2000
Ord-Res Number
9154-00
Bill Number
95-00
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1200 COUNTY-CI'T'Y BUILDING <br />SOUTH BEND, INDIANA 46601-1830 <br />PHONE 219/ 235-9371 <br />FAx 219/235-9021 <br />TDD 219/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY $~ ECONOMIC DEVELOPMENT <br />JON R. HUNT <br />EXECUTNE DIREC'T'OR <br />October 4, 2000 <br />Ms. Charlotte Pfeifer <br />President, South Bend Common Council <br />435 County-City Building <br />South Bend, Indiana 46601 <br />Re: An Ordinance of the Common Council of the City of South Bend, Indiana <br />Authorizing the Submission of an Application for Grant and Loan Assistance <br />Through the Industrial Development Fund and Pledging Certain Revenues to the <br />Repayment Thereof (Robert Bosch Corporation Retention Project) <br />Dear Ms. Pfeifer: <br />Attached for filing please find the above-referenced Ordinance for first reading by the <br />Common Council at its October 9, 2000 meeting. This Ordinance authorizes the submission of <br />an application for grant and loan assistance (the "IDLF Loan") to the Indiana Department of <br />Commerce and the Indiana State Board of Finance in order to provide funds for the acquisition <br />and renovation of the facility occupied by Robert Bosch Corporation ("Bosch"). The Ordinance <br />further provides for the pledge by the City of certain funds it expects to receive from Bosch <br />pursuant to the terms of an agreement between the City and Bosch toward the repayment of the <br />IDLF Loan. The pledge is necessary insofar as the payments to be received from Bosch shall <br />constitute the City's only obligation toward the repayment of the IDLF Loan, which shall not <br />constitute a general obligation debt of the City. <br />Your favorable consideration is requested. Please do not hesitate to contact me if you <br />need additional information. <br />Sincerely, <br />• 1~~~ <br />Jon R. Hunt, Director <br />Community and Economic <br />v ~ 1 ~ ji ?~Q(~ <br />~~ <br />p• ..:~Lrp}~':. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />219/235-9660 219/235-9371 ELIZ48ETH LEONARD <br />FAX: 2191235-0607 219/235-9371 <br />
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