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REGULAR MEETING <br />DECEMBER 10, 2007 <br />in a development like this. This project has generated a lot of excitement both locally <br />and nationally. <br />Councilmember Pfeifer wanted to hear again that Kite is committed to working with <br />minority business. <br />Mr. Compton stated that prior to hearing on July 16, 2007, he along with Councilmember <br />Rouse and Mr. Hardie Blake help put a meeting together and got a list of businesses. He <br />stated that they have not contacted any business because they are not at that stage of the <br />development. Mr. Compton stated that they need to have the TIF financing in place first <br />and then proceed to the next step. He reiterated that they are committed to working with <br />minority businesses. <br />Councilmember Dieter made a motion for favorable recommendation to full Council <br />concerning this bill. Councilmember Puzzello seconded the motion which carried by a <br />voice vote of nine (9) ayes. <br />BILL NO. 84-07 PUBLIC HEARING ON A BILL OF THE <br />COMMON COUNCIL OF THE CITY OF SOUTH <br />BEND, INDIANA TO ESTABLISH ONE <br />ADDITIONAL FUND, NAMELY, FUND NO. 651 <br />CITY OF SOUTH BEND SEWAGE WORKS <br />REVENUE BONDS OF 2007B <br />Councilmember Pfeifer, Chairperson, Personnel & Finance Committee, reported that this <br />committee held a Public Hearing on this bill this afternoon and voted to send it to the full <br />Council with a favorable recommendation. <br />Mr. John Murphy, Assistant/Acting City Controller, 12th Floor County-City Building, <br />South Bend, Indiana, made the presentation for this bill. <br />Mr. Murphy advised that this bill would create a new fund for the receipt and expenditure <br />of bond proceeds in connection with the Sewage Works Revenue Bonds of 2007B. The <br />amount of the borrowing is $16,515,000 and the anticipated closing date is December 20, <br />2007. <br />This being the time heretofore set for Public Hearing on the above bill, proponents and <br />opponents were given an opportunity to be heard. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this bill, Councilmember Dieter made a motion for favorable <br />recommendation to full Council concerning this bill. Councilmember Puzzello seconded <br />the motion which carried by a voice vote of nine (9) ayes. <br />RISE AND REPORT <br />Councilmember Dieter made a motion to rise and report to the full Council. <br />Councilmember Puzzello seconded the motion which carried by a voice vote of nine (9) <br />ayes. <br />ATTEST: <br />John Voorde, City Clerk <br />ATTEST: <br />Karen L. White, Chairperson <br />Committee of the Whole <br />14 <br />