HomeMy WebLinkAboutAppropriating $74,458 UDAG Fund #410 Payment on the St Joseoh Wayne Parking Garage a •I
ORDINANCE NO. • 8210-91
Passed by the Common Council of the City of South Bend, Indiana.
August 26, 91
19
City Attest.. y Clerk
IRENE K. GAMMON
Attest: President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana—
August 27, 91
19
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City Clerk
IRENE K. GAMMON
Approved and signed by me Q616,00 - 643 '"'`b S 19 q t co
4 ' Mayor
BILL NO.
ORDINANCE NO. R02. /C9 - 9 /
AN ORDINANCE APPROPRIATING $74,458 . 00
FROM UDAG FUND #410 TO THE PARKING GARAGE PRINCIPAL
AND INTEREST ACCOUNT OF THE REDEVELOPMENT DISTRICT BOND FUND #312
FOR PAYMENT ON THE ST. JOSEPH/WAYNE PARKING GARAGE LEASE
STATEMENT OF PURPOSE AND INTENT:
In order to assure the efficient and timely utilization of
funds and that the immediate needs of specific activities are met,
certain appropriation is necessary.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION I. The sum of $74,458 .00 is hereby appropriated from
UDAG Fund (#410) to be paid to the Parking Garage Principal and
Interest Account of the Redevelopment District Bond Fund (Fund
#312) for use in making the lease payment on the St. Joseph/Wayne
Parking Garage.
SECTION II. This ordinance shall be in full force and effect
from and after its passage by the Common Council and approval by
the Mayor.
L L L
Member o '4he Common Council
/ \6. � ,....01... ,
v1,,,,\•//,.0 City of South Bend
/9, 0‘....----_f_ ,Il,.ik. �j Joseph E. Kernan, Mayor
1\��\1/4\1865
Department of Economic Development
Jon R. Hunt Ann E. Kolata
Executive Director Deputy Executive Director
August 5, 1991
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill for your consideration and approval will appropriate
funds for the payment on the St. Joseph/Wayne Parking Garage bond. The
funds were received from One Michiana Square' s repayment on their UDAG
loan. As you will remember, we agreed to dedicate the One Michiana
Square repayments for debt service when the parking garage financing was
structured.
If you have any questions regarding this bill, please call me.
Sincerely,
A/6"/
on R. Hunt
Executive Director
cc: Beth Leonard
John March
Ann Kolata
1200 County-City Building • South Bend, Indiana 46601 • 219/284-9371 Fax 219/284-9021
Redevelopment Economic Development Housing Rehabilitation Financial & Program Human Rights
Ann Kolata & Business Assistance Kathryn Baumgartner Management Cynthia Love-Bush
284-9371 Donald Inks 521 Eclipse Place Elizabeth Leonard 284-9355
284-9335 284-9475 284-9335
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Your Committee of the Whole
to whom was referred
BILL NO.
55-91 SECOND READING ON A BILL APPROPRIATING $74,458.00 FROM UDAG
FUND #410 TO THE PARKING GARAGE PRINCIPAL AND INTEREST
ACCOUNT OF THE REDEVELOPMENT DISTRICT BOND FUND #312 FOR
PAYMENT ON THE ST. JOSEPH/WAYNE PARKING GARAGE LEASE.
Respectfully report that they have examined the matter and that in their opinion
This bill should be recommended to the Council favorable.
Loretta Duda
Chairman