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01-22-01 Council Meeting Minutes
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01-22-01 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
1/22/2001
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REGULAR MEETING JANUARY 22.2001 <br />meeting of the Council at the request of the petitioner. Councilinember Varner seconded the motion <br />which carried by a voice vote of eight (8) ayes. <br />BILL NO. 2 -01 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />AUTHORIZING THE ISSUANCE OF ITS "VARIABLE <br />RATE ECONOMIC DEVELOPMENT REVENUE BONDS, <br />SERIES 2001 (GOODWILL INDUSTRIES OF MICHIANA, <br />INC. PROJECT)," IN ONE OR MORE SERIES IN AN <br />AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED <br />TWO MILLION DOLLARS ($2,000,000) AND <br />APPROVING AND AUTHORIZING OTHER ACTIONS IN <br />RESPECT THERETO <br />Councilmenmber Aranowski reported that the Personnel & Finance Committee met on this bill and <br />sends it to the Council with a favorable recommendation. <br />Mr. Kenneth P. Fedder, Attorney at Law, Allen, Fedder, Herendeen & Kowals, 205 West Jefferson <br />Boulevard, Suite 606, South Bend, Indiana, made the presentation for this bill. <br />Mr. Fedder noted that on January 19, 2001 the Economic Development Commission passed a <br />Resolution which he has submitted to the City Clerk. This bill is the final stage of the actual funding <br />of the project for Goodwill. The project entails the construction of two (2) new facilities and will <br />provide an excellent opportunity for Goodwill to improve their efforts to serve the disadvantaged <br />and the disabled in the community. Mr. Fedder noted that Goodwill is a not for profit corporation <br />and these bonds will be sold on a tax exempt basis with no liability on behalf of the Commission, <br />the Council or the issuer. He noted that these bonds are not general obligation bonds of the City. <br />This being the time heretofore set for the 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 opposition to this <br />bill, Councilmember Aranowski made a motion for favorable recommendation to full Council <br />concerning this bill. Councilmember Coleman seconded the motion which carried by a voice vote <br />of eight (8) ayes. <br />BILL NO. 5 -01 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA <br />AUTHORIZING THE SUBMISSION OF AN <br />APPLICATION FOR A LOAN FROM THE <br />ENVIRONMENTAL REMEDIATION REVOLVING LOAN <br />FUND ADMINISTERED BY THE INDIANA <br />DEVELOPMENT FINANCE AUTHORITY RELATING TO <br />THE ROBERT BOSCH CORPORATION RETENTION <br />PROJECT AND TO LOAN THE PROCEEDS THEREOF <br />TO THE ROBERT BOSCH CORPORATION <br />Councilmember Aranowski reported that the Personnel & Finance Committee met on this bill and <br />sends it to the Council with a favorable recommendation. <br />Mr. Bob Case, Economic Development Specialist, Community & Economic Development, 1200 <br />County -City Building, South Bend, Indiana, made the presentation for this bill. <br />Mr. Case indicated that this bill authorizes the submission of an application to the Indiana <br />Development Finance Authority for a $1.3 million dollar environmental remediation revolving loan <br />to the Bosch Corporation. <br />
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