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REGULAR MEETING SEPTEMBER 24, 2001 <br />"CITY OF SOUTH BEND, INDIANA, REVENUE BONDS, <br />SERIES 2001C," FOR THE PURPOSE OF FINANCING <br />THE COSTS OF REHABILITATION OF PROPERTY IN <br />CONNECTION WITH THE ROBERT BOSCH <br />CORPORATION RETENTION PROJECT, TOGETHER <br />WITH EXPENSES INCIDENTAL THERETO, INCLUDING <br />EXPENSES IN CONNECTION WITH THE ISSUANCE OF <br />THE BOND <br />Councilmember Coleman made a motion to combine Bill Nos. 86 -01 and 87 -01 for purposes of <br />Public Hearing. Councilmember Varner seconded the motion which carried by a voice vote of nine <br />(9) ayes. <br />Councilmember White made a motion to consider the substitute version of Bill No. 86 -01 as <br />submitted. Councilmember Varner seconded the motion which carried by a voice vote of nine (9) <br />ayes. <br />Councilmember Kelly reported that the Community and Economic Development Committee and the <br />Personnel and Finance Committee met on these bills and recommends them to the Council <br />favorably with Bill No. 86 -01 as substituted. <br />Mr. Bob Case, Economic Development Specialist, Community & Economic Development, 1200 <br />County -City Building, South Bend, Indiana, made the presentation for these bills. <br />Mr. Case advised that these bills relate to a retention package for The Robert Bosch Corporation. <br />- He noted that several years ago The Robert Bosch Corporation approached the City and was <br />contemplating moving out of state. The State of Indiana, City of South Bend and St. Joseph County <br />were able to put together a package to save four hundred thirty -five (435) jobs with an annual payroll <br />of $27 million. This bill is for a BDC Loan in the amount of five hundred ten thousand dollars <br />($510,000.00) for twenty (20) years. <br />This being the time heretofore set for the Public Hearing on the above bills, 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 <br />these bills, Councilmember Coleman made a motion for favorable recommendation to full Council <br />concerning Bill No. 86 -011 as substituted. Councilmember Varner seconded the motion which <br />carried by a voice vote of nine (9) ayes. Additionally, Councilmember Varner made a motion for <br />favorable recommendation to full Council concerning Bill No. 87 -01. Councilmember Coleman <br />seconded the motion which carried by a voice vote of nine (9) ayes. <br />BILL NO. 88 -01 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />AUTHORIZING THE ISSUANCE, OF REVENUE BONDS <br />TO EVIDENCE A LOAN FROM THE INDUSTRIAL <br />REVOLVING FUND OF SOUTH BEND, INDIANA, <br />RELATING TO THE ROBERT BOSCH CORPORATION <br />RETENTION PROJECT, CITY OF SOUTH BEND, <br />INDIANA, REVENUE BONDS, SERIES 2001D <br />BILL NO. 89 -01 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />APPROPRIATING THE PROCEEDS DERIVED FROM <br />THE ISSUANCE OF BONDS HERETOFORE <br />-5- <br />