HomeMy WebLinkAboutCity of South Bend Building Corporation Meeting Minutes 0426 2017 CITY OF SOUTH BEND BUILDING CORPORATION
MEETING
April 26, 2017
1:00 p.m. 227 West Jefferson Boulevard
Presiding: John Murphy, President South Bend, Indiana
The meeting was called to order at 1:00 p.m.
1. ROLL CALL
Members Present: John Murphy, President
Jose Alvarez, Vice President
Benjamin Dougherty, Esq.
Mary Brazinsky
Members Absent:
Legal Counsel:
Recording Secretary:
Others: John March
2. APPROVAL OF MINUTES
A. Approval of Minutes of the March 29, 2017 Meeting
Upon a motion by Vice President Alvarez, seconded by President Murphy the motion
unanimously carried, the Board approved the Minutes of the March 29, 2017 meeting.
3. New Business
A. County Option Income Tax Lease Rental Revenue Bonds of 2001 (Officer’s
Certificate of Insurance) Wells Fargo
John March presented County Option Income Tax Lease Rental Revenue Bonds of
2001 (Officer’s Certificate of Insurance) Wells Fargo Bank. Mr. March stated that Wells
Fargo Bank has requested the annual officer’s certification on the public service
buildings. The main building being 69,900 square feet, the smaller buildings are 6,000
and the other 12,000 square feet.
South Bend Building Corporation
Meeting – April 26, 2017
Page 2
Upon a motion by Vice President Alvarez, seconded by President Murphy the motion
unanimously carried, the Board approved the County Option Income Tax Lease Rental
Revenue Bonds of 2001 (Officer’s Certificate of Insurance) Wells Fargo Bank.
B. City of South Bend Building Corporation Financial Update
John Murphy presented City of South Bend Building Corporation Financial Update.
These are revenue or lease rental payments by the City. The principle and interest are
paid out of this fund with usually a small carrying balance of debt service reserve. Mr.
Murphy explained the funds more in depth to the attendees.
Upon a motion by Vice President Alvarez, seconded by President Murphy the motion
unanimously carried, the Board acknowledged receiving the City of South Bend Building
Corporation Financial Update.
5. ADJOURNMENT
Upon a motion by Vice President Alvarez, seconded by President Murphy the motion
unanimously carried the meeting was adjourned at 1:09 p.m.
____________________________________ ____________________________________
Jennifer Hockenhull, President Jose Alvarez, Vice President
City of South Bend Building Corporation City of South Bend Building Corporation