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CITY OF SOUTH BEND OFFICE OF THE CLERK <br /> when I got on here,we didn't do anything with any of the parks in the City,and we made a choice. <br /> We made a very big choice to do that versus alright let's not do the Parks Bond. It was let's try to <br /> eke out a little bit of the General Fund to do a little here and there and it would have taken decades <br /> to do instead of that one (1) big thing. People are going to look at the Parks Bond and think do I <br /> want to live here. Do I want to live here where the parks haven't been changed in thirty(30) years <br /> who are seeing something new and vibrant when they come into town?It's a very little increase in <br /> population but I have six (6) new families on my street and they were looking at the amenities as <br /> to why they moved. <br /> Councilmember White stated,Thank you so much. We are going to go to the public. I ask that you <br /> stand and state your name and address. <br /> Jim Bognar, 807 E. Washington Street, South Bend, IN stated, Thank you Council and Jen for the <br /> very important discussion. When you prepare information for Council I think you should account <br /> for how much you are going to be paying on it and how much the interest is going to cost us. I <br /> noted here that you had mentioned before about the Parks Bond in 2018 and this said TIF revenue <br /> is the first (1St) source and property taxes is the second (2nd) source, and it says the Commission <br /> intends to use the River West tax to pay tax debt on the bond,but it is not formally pledged. I think <br /> a lot of times the bond lease report goes through Gateway and that's why I ask a lot of questions <br /> about Gateway that it's critical that Council pays attention to this. So, if they are going to decide <br /> and I compliment President Scott, because if they are going to decide as to what they are going to <br /> spend money on I think that is critical.Another thing in the presentation,we didn't discuss interest, <br /> but we talked about principal. We did use the information in the Global ratings which says weak <br /> economy. The City wealth and income levels are however persistently low and continue to slip. <br /> Like we do with the shortage of high paying jobs in this area. The fact that we have a Double A <br /> (AA)bond rating,that is very impressive. I think it's important for Council working with Jennifer <br /> and her staff to say we are on the edge of this. I think the challenge comes right back from what <br /> President Scott says, it's important for you all to be much more involved in coming into these <br /> things. If you are coming to pass this,this is how much it is going to cost. You two (2)forces have <br /> got to work together. We have a lot of debt and I think this is really something that needs to stay <br /> put soon. <br /> Jessie Davis, PO Box 10205, South Bend, IN stated, Kind of on the same lines as that and talking <br /> about what your debt ceilings is the question that is being asked. There is always a top pay scale <br /> if you are in a business, there's always a percentage in your borrowing power. So, the question <br /> asked is what our debt ceiling is to what our debt is right now? Do we have borrowing power for <br /> another $20 million or can we only borrow $5 million. I'm not politically correct and I am not a <br /> huge business person, so I am just going to lay it out there. Then we look at your little graph down <br /> here where we talk about your spending; Water Works, well let me tell you, we need a lot of <br /> upgrades in our water works system, I used to do a lot of digging so I know that as a fact. I know <br /> we still have old lead lines in this City. Our Mayor has denied, I have dug these up personally, I <br /> have photographs of them. So why are we only putting six (6) percent in our water system and <br /> drinking water? You got your priorities mixed up so you guys I am assuming in Community <br /> Investment or whatever they call your department now. You kind of work under the Mayor now <br /> and bring things to the Council. Council needs to understand that you are our checks and balance, <br /> you and the Mayor are two (2) different legislative bodies. So the Mayor can come up with what <br /> we call debt pride, and you can bring them in a proposal all day long. We really depend on you <br /> Council Members elected to represent us and say hey enough is enough. We have other priorities. <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 455 County-City Building 1227 W.Jefferson Bvld I South Bend,Indiana 466011 p 574.235.922111574.235.91731TTD574.235.5567lwww.southbendin.gov <br /> 16 <br />