06-08-09 Common Council Meeting - Laserfiche WebLink

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REGULAR MEETING JUNE 8, 2009 Councilmember White made a motion to hear the substitute version of this bill. Councilmember Dieter seconded the motion which carried by a voice vote of eight (8) ayes. Councilmember Oliver Davis, Chairperson, Utilities Committee, reported that this committee held a Pubic Hearing on this substitute bill this afternoon and voted to send it to the full Council with a favorable recommendation. Mr. Phillip J. Faccenda, Jr., Attorney, Barnes & Thornburg, LLP, 600 St. Source Bank Center, 100 North Michigan, South Bend, Indiana, along with Mr. Dave Tungate, South Bend Water Works, 830 N. Michigan Street, South Bend, Indiana, made the presentation for this bill. Mr. Faccenda advised that this bill would allow for $6.2 million dollars of City of South Bend, Indiana Water Works Revenue Bonds for 2009. Mr. Dave Tungate, South Bend Water Works, 830 N. Michigan Street, South Bend Indiana, stated that the bonds would fund upgrades, expansions, additions, replacements, extensions and improvements to the Water Works including such items as repair and replacement of a roof on the 5.5 million gallon reservoir; repair of an under drain and replacement of the filter media at a filtration plant; replace four (4) main line valves; installation of a water main extension south of Ireland Road ad redesign, repair and replace the control valves for the Ireland Road Tank; installation of a water main extension from Carroll Street and Johnson Road to Lucinda Street and to US 31 from Lilac Road to Armstrong Drive along Kern Road; purchase two (2) tandem axle dump trucks and one (1) backhoe; purchase residential water meters. Mr. Faccenda noted that the Indiana State Revolving Fund has approved a $300,000 grant; and that the Federal Stimulus money is for “shovel ready projects” many of which are backlogged projects, but that the city has not received confirmation from the federal government if these projects meet their criteria. He noted that no rate increase is anticipated as a result of the proposed revenue bonds. He stated that the modifications in the substitute bill reflect changes requested by the State Revolving Fund (SRF) Program and primarily involve the establishment of a separate debt service reserve for bonds sold to the SRF, consent rights of the SRF to the taking of certain actions for bonds sold to the SRF, and other minor modifications in connections with the SRF Program. This being the time heretofore set for the Public Hearing on the above bill, proponents and opponents were given an opportunity to be heard. There being no one present wishing to speak to the Council either in favor of or in opposition to this bill, Councilmember Varner made a motion for favorable recommendation to full Council concerning this bill as substituted. Councilmember Dieter seconded the motion which carried by a voice vote of eight (8) ayes. RISE AND REPORT Councilmember White made a motion to rise and report to the full Council. Councilmember Dieter seconded the motion which carried by a voice vote of eight (8) ayes. 11