Authorizing Issuance and Sale of no more than $1,300,000 Econ Dev Revenue bonds, Series 1999 (Rink Riverside Printing)

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COMMITTEE REPORT TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 103-99 A BILL AUTHORIZING THE ISSUANCE AND SALE OF NO MORE THAN $1,300,000 ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1999 (RINK RIVERSIDE PRINTING, INC. PROJECT) OF THE CITY OF SOUTH BEND, INDIANA, FOR THE PURPOSE OF FUNDING A LOAN TO RINK RIVERSIDE PRINTING, INC. IN ORDER TO FINANCE THE ACQUISITION AND INSTALLATION OF EQUIPMENT AND MACHINERY TO BE UTILIZED IN AN EXISTING MANUFACTURING FACILITY LOCATED IN THE CITY OF SOUTH BEND, INDIANA; PROVIDING FOR THE PLEDGE OF REVENUES FOR THE PAYMENT OF SUCH BONDS; AUTHORIZING THE EXECUTION OF A BOND PURCHASE AND LOAN AGREEMENT AND A PROJECT NOTE APPROPRIATE FOR THE PROTECTION AND DISPOSITION OF SUCH REVENUES AND TO FURTHER SECURE SUCH BONDS; AND AUTHORIZING SUCH OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS." Respectfully report that at their committee meeting held on November 22°d, 1999 that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. Charlotte Pfeifer Chairman Note: At the Common Council's special meeting held on Friday, December 3, 1999, the Council accepted the substitute version of this bill.