01-22-01 Council Meeting Minutes

Home Browse Search

REGULAR MEETING JANUARY 22.2001 meeting of the Council at the request of the petitioner. Councilinember Varner seconded the motion which carried by a voice vote of eight (8) ayes. BILL NO. 2 -01 PUBLIC HEARING ON A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE ISSUANCE OF ITS "VARIABLE RATE ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 2001 (GOODWILL INDUSTRIES OF MICHIANA, INC. PROJECT)," IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED TWO MILLION DOLLARS ($2,000,000) AND APPROVING AND AUTHORIZING OTHER ACTIONS IN RESPECT THERETO Councilmenmber Aranowski reported that the Personnel & Finance Committee met on this bill and sends it to the Council with a favorable recommendation. Mr. Kenneth P. Fedder, Attorney at Law, Allen, Fedder, Herendeen & Kowals, 205 West Jefferson Boulevard, Suite 606, South Bend, Indiana, made the presentation for this bill. Mr. Fedder noted that on January 19, 2001 the Economic Development Commission passed a Resolution which he has submitted to the City Clerk. This bill is the final stage of the actual funding of the project for Goodwill. The project entails the construction of two (2) new facilities and will provide an excellent opportunity for Goodwill to improve their efforts to serve the disadvantaged and the disabled in the community. Mr. Fedder noted that Goodwill is a not for profit corporation and these bonds will be sold on a tax exempt basis with no liability on behalf of the Commission, the Council or the issuer. He noted that these bonds are not general obligation bonds of the City. This being the time heretofore set for the Public Hearing on the above bill, proponents and opponents were given an opportunity to be heard. There being no one present wishing to speak to the Council either in favor of or in opposition to this bill, Councilmember Aranowski made a motion for favorable recommendation to full Council concerning this bill. Councilmember Coleman seconded the motion which carried by a voice vote of eight (8) ayes. BILL NO. 5 -01 PUBLIC HEARING ON A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA AUTHORIZING THE SUBMISSION OF AN APPLICATION FOR A LOAN FROM THE ENVIRONMENTAL REMEDIATION REVOLVING LOAN FUND ADMINISTERED BY THE INDIANA DEVELOPMENT FINANCE AUTHORITY RELATING TO THE ROBERT BOSCH CORPORATION RETENTION PROJECT AND TO LOAN THE PROCEEDS THEREOF TO THE ROBERT BOSCH CORPORATION Councilmember Aranowski reported that the Personnel & Finance Committee met on this bill and sends it to the Council with a favorable recommendation. Mr. Bob Case, Economic Development Specialist, Community & Economic Development, 1200 County -City Building, South Bend, Indiana, made the presentation for this bill. Mr. Case indicated that this bill authorizes the submission of an application to the Indiana Development Finance Authority for a $1.3 million dollar environmental remediation revolving loan to the Bosch Corporation.