11-22-99 Council Meeting Minutes

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REGULAR MEETING NOVEMBER 22, 1999 Mr. O'Connor explained that the City receives several miscellaneous grants and special funds and to avoid commingling funds and to establish proper accounting for these various funds it is requested that a new Fund 250 be established. 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. Council President Coleman seconded the motion which carried by a voice vote of nine (9) ayes. BILL NO. 103 -99 A BILL AUTHORIZING THE ISSUANCE AND SALE OF NOT MORE THAN $1,300,000 ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1999 (RINK RIVERSIDE PRINTING, INC. PROJECT) OF THE CITY OF SOUTH BEND, INDIANA, FOR THE PURPOSE OF FUNDING A LOAN TO RINK RIVERSIDE PRINTING, INC. IN ORDER TO FINANCE THE ACQUISITION AND INSTALLATION OF EQUIPMENT AND MACHINERY TO BE UTILIZED IN AN EXISTING MANUFACTURING FACILITY LOCATED IN THE CITY OF SOUTH BEND, INDIANA; PROVIDING FOR THE PLEDGE OF REVENUES FOR THE PAYMENT OF SUCH BONDS; AUTHORIZING THE EXECUTION OF A BOND PURCHASE AND LOAN AGREEMENT AND A PROJECT NOTE APPROPRIATE FOR THE PROTECTION AND DISPOSITION OF SUCH REVENUES AND TO FURTHER SECURE SUCH BONDS; AND AUTHORIZING SUCH OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS Councilmember Kelly made a motion that this bill be continued until the Special Meeting of the Council to be held on Friday, December 3, 1999 at 12:00 noon in the Council Informal Meeting Room. Councilmember Varner seconded the motion which carried by a voice vote of nine (9) ayes. RISE AND REPORT Councilmember Kelly made motion to rise and report to the full Council. Council President Coleman seconded the motion which carried by a voice vote of nine (9) ayes. ATTEST: Loretta . Du a, ity C fir REGULAR MEETING RECONVENED ATTEST: Charlotte Pfeifer, Chairp s Committee of the Whole Be it remembered that the Common Council of the City of South Bend reconvened in the Council Chambers on the fourth floor of the County -City Building at 7:40 p.m. Council President Sean Coleman presided with nine (9) members present.