HomeMy WebLinkAbout09-28-93 Personnel & Finance and Utilities Committee Report
JOINT PERSONNEL AND FINANCE AND UTILITIES COMMITTEE
To the Common Council of the City of South Bend:
The joint Committee of the Personnel and Finance and
Utilities Committee was called to order by the Utilities
Chairperson,n Council Member Tom Zakrzewski, at 5: 00
p.m. on
September 28, 1993 , in the Council Informal Meeting Room.
Persons in attendance included Council Members: Luecke,
Washington, Kelly, Puzzello, Slavinskas, Zakrzewski,
Coleman, Duda, Ladewski; Richard Hill, Kevin Horton, John
Stancati, John Leszczynski, T. Brooks Brademas, John Byorni,
William Egan, Don Porter, and Kathleen Cekanski-Farrand.
Council Member Zakrzewski noted that the main item on the
agenda was to discuss Bill No. 81-93 which addresses the 5. 1
million dollar Bond Issue for the Municipal Waterworks.
Mr. Richard Hill, Bond Council Attorney, then made the
presentation. He presented to the Committee a document
entitled "Waterworks Revenue Bonds and Water Rate Case
Summary Timetable" dated September 27, 1993, (copy attached)
and noted that it is anticipated that the bond sale would
take place on October 21st, with the closing to take place
on November 3rd.
He then reviewed the handout entitled "Summary of an
Ordinance Amending the Bond Ordinance Previously Adopted by
the Common Council" (copy attached) . He noted that the Bond
would basically finance the relocation of the main office,
address Filtration Plant improvements, address repairs to
existing reservoirs, repaint existing tanks, and allow for
the construction of 5 (five) new wells. The maximum
interest rate would be
8% (eight percent) with principal
payments beginning January 1, 1995, and continuing through
January 1, 2009.
Mr. John Stancati then provided a 3 (three) page handout
(copy attached) further outlining the Bond, projects and
timetables, and a comparison to the original Bond breakdown.
Under the public portion, Mr. T. Brooks Brademas stated that
approximately one year ago when a 27% rate increase was
1
pppassed on to the consumers it incorporated a 2 million
dollar building. This building was projected to cost
$200.00 (two hundred dollars) per square foot. Mr. Brademas
contends that the Bond has included an excess of 1 million,
125 thousand dollars in light of the savings generated by
the new location. He further contended that there is no
need for Local Option Income Tax.
Council President Luecke clarified the City's position that
there was no excess in the Bond Issue.
Following further discussion, Council Member Luecke made a
motion, seconded by Council Member Ladewski, that Bill No.
81-93 be recommended favorably to Council. The motion
passed.
There being no further business to come before the
Committee, the meeting was ajourned at 5: 15 p.m.
Respectfully submitted,
Council Members:
Tom Zakrzewski,
Chairperson
Utilities Committee
Ann Puzzello,
Chairperson
Personnel and Finance Committee
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