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03-10-97 Council Meeting Minutes
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03-10-97 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
3/10/1997
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REGULAR MEETING <br />MARCH 10, 1997 <br />ORDINANCE NO. 8767 -97 AN ORDINANCE OF THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND, INDIANA, <br />APPROPRIATING $15,000.00 FROM INDIANA <br />RIVER RESCUE FUND (FUND #291) FOR THE <br />PURCHASE OF EQUIPMENT <br />This bill had third reading. Council Member Coleman made a <br />motion to pass the bill, seconded by Council Member Aranowski. <br />The bill passed by a roll call vote of nine ayes. <br />RESOLUTIONS <br />RESOLUTION NO. 2442 -97 A RESOLUTION OF THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND REGARDING USE OF <br />SURPLUS BOND PROCEEDS AND /OR EARNINGS <br />FROM THE SOUTH BEND CIVIC CENTER <br />BUILDING AUTHORITY BONDS OF 1975 AND <br />REFUNDING BONDS OF 1977 <br />WHEREAS, the Civic Center Building Authority previously <br />issued its 1975 Bonds and 1977 Refunding Bonds (collectively, the <br />Bonds), the proceeds of which were used for the acquisition and <br />construction of the Century Center Civic Center; and <br />WHEREAS, the purpose for which the bonds were issued has <br />been accomplished and completed; and <br />WHEREAS, the bonds have been paid in full; and <br />WHEREAS, a surplus of $11,562.06 exists in the city bond <br />trustee accounts (Funds) from the proceeds and /or investment <br />earnings of the Bonds; and <br />WHEREAS, the City Controller has made certifications <br />regarding surplus monies in the Fund, a copy of which <br />certification is attached hereto; and <br />WHEREAS, the Common Council of the City of South Bend deems <br />it advisable to use said surplus for the repayment of the South <br />Bend Redevelopment Authority Lease Rental Revenue Bonds of 1994 <br />(Century Center Project). <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />REDEVELOPMENT COMMISSION as follows: <br />1. That the determinations set forth in the certifications <br />of the Controller are hereby approved. <br />2. That the Common Council of the City of South Bend hereby <br />approves the use of said surplus in the Funds for repayment of <br />the South Bend Redevelopment Authority Lease Rental Revenue bonds <br />of 1994 (Century Center Project). <br />3. This resolution shall be in full force and effect from <br />and upon its adoption by the Common Council and approval by the <br />Mayor. <br />/s/ Roland Kelly <br />Council Member <br />A public hearing was held on the resolution at this time. Ann <br />Kolata, deputy executive director of Community and Economic <br />Development, made the presentation. She indicated this <br />resolution authorizes the deposit of surplus bond proceeds, plus <br />interest earnings from the 1975 Civic Center Building Authority <br />Bonds and the subsequent Refunding Bonds of 1994 on the Century <br />Center Project. She reported that this surplus amounts to <br />$11,562.06. Council Member Coleman made a motion to adopt this <br />resolution, seconded by Council Member Hosinski. The resolution <br />was adopted by a roll call vote of nine ayes. <br />1 <br />
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