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REGULAR MEETING SEPTEMBER 23, 2002 <br />that loan will be heard by the Council at their October 14th meeting. Ms. Kolata noted that the <br />Indiana Development Finance Authority has asked for this Resolution. They have to put this loan <br />together with the U.S. Environmental Protection Agency and some of the money has a September <br />30, 2002 deadline and therefore they want to make sure that this project is moving forward. The <br />purpose of the loan is to remediate a brownfield which is an environmentally challenged piece of <br />property within the City limits. It is expected that by the end of this year all loan documents will <br />be in place and they will be back before the Council with the final details. Ms. Kolata advised that <br />Attorney Alan Feldbaum from Barnes & Thornburg is also present to answer any technical questions <br />related to the financing. Ms. Kolata asked for the Council's favorable action on this Resolution. <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 opposition to this <br />Resolution, Councilmember King made a motion to adopt this Resolution, as substituted. <br />Councilmember White seconded the motion which carried and the Resolution was adopted by a roll <br />call vote of nine (9) ayes. <br />BILLS - FIRST READING <br />BILL NO. 75 -02 FIRST READING ON A BILL TO VACATE THE <br />FOLLOWING DESCRIBED PROPERTY: THE ALLEY TO <br />BE VACATED IS THE FIRST EAST /WEST ALLEY <br />SOUTH OF BROADWAY STREET, FROM MICHIGAN <br />STREET TO THE FIRST NORTH /SOUTH ALLEY FOR A <br />DISTANCE OF 150 FEET AND A WIDTH OF 14 FEET. <br />BEING A PART OF HANEY' S ADDITION TO THE CITY <br />OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA <br />This bill had first reading. Councilmember Varner made a motion to refer this bill to the Public <br />Works and Property Vacation Committee and set it for Public Hearing and Third Reading on <br />October 14, 2002. Councilmember Coleman seconded the motion which carried by a voice vote of <br />nine (9) ayes. <br />BILL NO. 76 -02 FIRST READING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA <br />AUTHORIZING THE PRELIMINARY ISSUANCE OF <br />BONDS TO EVIDENCE A LOAN FROM THE INDIANA <br />DEPARTMENT OF ENVIRONMENTAL MANAGEMENT <br />BROWNFIELDS CLEANUP REVOLVING LOAN FUND <br />ADMINISTERED BY THE INDIANA DEVELOPMENT <br />FINANCE AUTHORITY, PLEDGING A PORTION OF <br />THE CITY'S COUNTY OPTION INCOME TAX <br />REVENUES TO SECURE SUCH BONDS, AND OTHER <br />MATTERS CONNECTED THEREWITH <br />This bill had first reading. Councilmember Pfeifer made a motion to refer this bill to the Personnel <br />and Finance Committee and set it for Public Hearing and Third Reading on October 14, 2002. <br />Councilmember Coleman seconded the motion which carried by a voice vote of nine (9) ayes. <br />-16- <br />