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*CITY OF SOUTH BEND OFFICE O F T H E CLERK <br /> light that there are 2015 EDIT bonds being paid out of that same bucket of income tax revenue. <br /> So that being done and none of those affect the property taxes. To the same point, it's been drawn <br /> out of the income tax bucket and the process is to ensure that the bucket is full to add a new <br /> obligation to it. <br /> Councilmember Teshka stated, That's the issue with bottom lining here, I mean we got so many <br /> different funding sources available here to so many different things. <br /> Councilmember Davis stated, And that is a part of the General Fund issues because people will <br /> consider this part of their revenue. <br /> Councilmember Teshka followed up, Coming from a business perspective, this is different from <br /> looking at the PRO because there's so many different whys behind each line and why we do what <br /> we do with different funds. It is very complex. <br /> Councilmember Davis asked, Now this is not necessarily for the debt fund, and some would say <br /> there's enough room for us to do that again while others might say well if we don't use those funds <br /> for the Zoo we would have the ability to fix up our streets and curbs better. Yes, we can do that, <br /> but then this is taking away from the other things. What is the cost of this? <br /> Mr. Dougherty answered, This is correct, and you are thinking about it the right way. This comes <br /> down to what the Council would do to prioritize where those revenues would go. The way that it <br /> functionally goes forward if you approve it then that piece of the EDIT would be pledged and it's <br /> almost like it's not there. It's the idea that we pledged, let's say for twenty (20) years, it's a piece <br /> of how it's sustained,but how it's promised. <br /> Councilmember Davis asked, You promised it but since we are going to have other cuts coming <br /> from other parts of this with that property tax issue and yet we promised this money out then my <br /> concern is when we look at this, it's an issue. Some of the issue that is shared (the assessments, <br /> census, and evaluation), we have never really discussed all of this. <br /> Mr. Dougherty answered, If I may from the Municipal point of view,what the analysis is going to <br /> deliver to us is the idea of for budgeting that revenue to pay debt, yes you have enough, they are <br /> not so interested in getting into these other priorities. <br /> Councilmember Davis asked, So our question is when it comes down to this budget do we have <br /> enough money? <br /> Committee Chair White stated, We need to have input from the public. We appreciate all of your <br /> work and this was a great meeting. <br /> Mr. Frierson stated, I appreciate you coming and having this discussion because it is all about <br /> education. The thing I keep going back to is kudos to the Council and the City,you are at a Double <br /> A (AA) and you all will do very good in the market place. One (1) thing you can always point to <br /> is where you are stable at with the Double A(AA) rating. <br /> Councilmember Scott stated, I completely get whatyou are saying about that and it's all about <br /> p YY g <br /> those choices and we are a part of that choice. I will use Parks for example. Seven (7) years ago <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION EMPOWERMENT <br /> 455 County-City Building 1227 W Jefferson Bvld I South Bend,Indiana 466011p 574.235.92211f 574.235.9173 I TTD 574.235.55671www.southbendin.gov <br /> 15 <br />