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REGULAR MEETINGOCTOBER 24, 2005 <br />receivable by the City for use within the Studebaker/Oliver Plan Revitalization Project; <br />and <br /> WHEREAS, the City anticipates receipt of proceeds from Allied Products in <br />settlement of a lawsuit for environmental damage at the Oliver Stamping Plant; and <br /> WHEREAS, it is appropriate that any lawsuit settlement proceeds be deposited <br />into Fund 209 because such funds are not tax revenues and are more analogous to grant <br />funds, and because they should be used to further the Studebaker/Oliver Plan <br />Revitalization Project; and <br /> WHEREAS, the City many in the future receive other, similar funds which are <br />non-tax revenues such as Indiana state grants funds, private donations, gifts, etc., which <br />are appropriate to deposit in Fund 209. <br /> NOW, THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND, INDIANA AS FOLLOWS: <br /> SECTION I. All the monies received by the City of South Bend from its lawsuit <br />against Allied Products for environmental damage at the Oliver Stamping site shall be <br />deposited into Fund 209 and used for the established purposes of that Fund. <br /> SECTION II. The City of South Bend administration is and shall be authorized to <br />deposit into Fund 209 any non-tax revenue funds which may be received in the future for <br />the specific, designated purposes of Fund 209, which such funds may be Indiana state <br />grants funds, private donations, gifts, refunds, or similar non-tax revenue. <br /> SECTION III. This Resolution shall be in full force and effect from and after its <br />adoption by the Common Council and approval by the Mayor. <br /> s/Charlotte D. Pfeifer <br /> Member of the Common Council <br />Councilmember Varner, Vice-Chairperson, Personnel and Finance Committee, reported <br />that this committee held a Public Hearing on this bill this afternoon and voted to send it <br />to the full Council with a favorable recommendation. <br />th <br />Ms. Ann Kolata, Senior Redevelopment Specialist, 12 Floor County-City Building, 227 <br />W. Jefferson Boulevard, South Bend, Indiana, made the presentation for this bill. <br />Ms. Kolata advised that the Council previously adopted Ordinance No. 9214-01 <br />establishing Fund 209 for deposits and disbursement of Federal Grants related to the <br />Studebaker/Oliver Project. In lieu of receiving funds in settlement of a lawsuit with <br />Allied Products related to environmental conditions at the former stamping plant. <br />Immediate action is requested on this resolution which will allow the funds to be placed <br />in Fund 209. The resolution will also broaden the types of funds that can be placed into <br />Fund 209 to include state grants, lawsuit settlements and other non-tax revenues that are <br />designated for the project. All funds deposited into Fund 209 will be used solely for the <br />Studebaker/Oliver project. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Dieter made a motion to adopt this <br />Resolution. Councilmember Varner seconded the motion which carried and the <br />Resolution was adopted by a roll call vote of seven (7) ayes. <br />13 <br /> <br />