HomeMy WebLinkAboutWaiving the required Filing Date of the Late Filing of Deduction Application for O-T-D Corporation 3722 Foundation CourtAttest:
RESOLUTION
3504 -05
Passed by the Common Council of the City of South Bend, Indiana
August 8,
05
20_.
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
August 8, 20 05
Approved and signed by me August S 2005 .
City Clerk
0
RESOLUTION NO. 3S q �-o S-
A RESOLUTION WAIVING THE REQUIRED FILING DATE OF MAY 15, 2002
AND ACCEPTANCE OF THE DEDUCTION APPLICATION OF THE LATE
FILING OF DEDUCTION APPLICATION FOR THE NEW MANUFACTURING
EQUIPMENT LOCATED IN AN ECONOMIC REVITALIZATION AREA FILED
UNDER RESOLUTION 2621 -98 FOR O -T -D CORPORATION LOCATED AT
3722 FOUNDATION COURT
Whereas, The State of Indiana, County of St. Joseph, Adopted by the Common Council
of the City of South Bend, Indiana commonly known as 3722 Foundation Court, South
Bend, Indiana had adopted RESOLUTION 2621 -98, pursuant to Indiana Code 6-1.1 -
12.Ito be an economic revitalization area for purposes of five (5) year personal tax
abatement for O -T -D Corporation.
Whereas, Resolution 2621 -98 was presented and adopted by the Common Council May
11, 1998. Mr. William Guinn as petitioner representative was in attendance.
Whereas, the Application for Deduction from Assessed Valuation for New
Manufacturing Equipment in Economic Revitalization area was prepared and mailed on
May 29, 2002 and filed by the city clerk's office on June 3, 2002.
Whereas, the Petitioner has presented substantial evidence to the Common Council that
exigent circumstances existed to prepare the Application for Deduction from Assessed
Valuation for New Manufacturing Equipment in Economic Revitalization Area
Now, therefore be it resolved by the Common Council of the City of South Bend, Indiana
as follows:
SECTION 1. The petitioner has presented testimonial evidence of the following facts in
support of this resolution:
A. The deduction application was received by the Clerks Office on June 3, 2002, having
been due on May 15th, 2002, was late due to unusual circumstances and under Indiana
code 6 -1.1- 12.1 -4.8 be accepted.
B. In 2001, O -T -D Corporation purchased a new accounting and manufacturing software
program.
C. O -T -D Corporation had lost key personnel in accounting and other levels due to
downsizing, including but not limited to the Chief Operation Officer, Mr. William Guinn.
D. Mr. Don Ureel, Chief Financial Officer, having suffered a stroke December 1999 had
retained asset documentation in the Hinsdale, IL office.
E. The assumption of accounting records from Mr. Ureel's office in Hinsdale, IL in June
2001, it became apparent that a major audit of our fixed assets (personal property) was
required.
F. The audit required going through invoices and cancelled checks back to 1972 in order
to identify which equipment was still in use, what was the original cost and purchase date
of each. This process changed the number of identified assets from 36 (lumped by annual
dollars) to 254 (individual items) for calendar years 1972 to 1998.
G. The combined volume of records being reviewed, installation and initialization of the
new software and lack of personnel delayed preparation of the Application for Deduction
from Assessed Valuation for New Manufacturing Equipment in Economic Revitalization
Area.
H. The responsibility for these tasks lay on one (1) person, along with the continual daily
accounting functions.
SECTION II. The foregoing facts, taken together, lead the Common Council to conclude
that compelling reasons exist to waive the filing deadline.
SECTION III. The Common Council hereby waives the filing deadline of May 15th
2002 and pursuant to Indiana Code 6 -1.1- 12.1 -4.8 adopts this resolution that authorizes
acceptance.
Member of the Common cil
File in Filed in
AUG - 3 2005
PRESENTED
NOT APPROVED
ADOPTED 0-6 �5—
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
05 -101 A RESOLUTION WAIVING THE REQUIRED FILING DATE OF
MAY 15, 2002 AND ACCEPTANCE OF THE DEDUCTION
APPLICATION OF THE LATE FILING OF DEDUCTION APPLICATION
FOR THE NEW MANUFACTURING EQUIPMENT LOCATED IN
AN ECONOMIC REVITALIZATION AREA FILED UNDER
RESOLUTION 2621 -98 FOR O -T -D CORPORATION LOCATED AT
3722 FOUNDATION COURT
Respectfully report that they have examined the matter and that in their opinion, this bill
is being recommended to the full Council with a favorable recommendation.
Roland Kelly
Chairman