04-08-13 Common Council Meeting Minutes

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REGULAR MEETING APRIL 8, 2013 produce packaged beer before they open the main pub portion. He stated that it would include an ale house (restaurant) and a pub portion in the same building. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Oliver Davis made a motion to adopt this Resolution. Councilmember Scott seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 4253-13 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, REGARDING THE SETTING OF A PUBLIC HEARING ON A LEASE FOR THE CONSTRUCTION AND EQUIPPING OF A FIRE STATION AND A FIRE SAFETY TRAINING FACILITY, AUTHORIZING THE PUBLICATION OF A NOTICE OF THE SAME, AND REGARDING CERTAIN RELATED MATTERS Whereas, the Common Council (the “Common Council”) of the City of South Bend, Indiana (the “City”) has determined that it is necessary to undertake certain improvements consisting of (i) the construction, erection, equipping and leasing of a fire station facility to replace the existing Fire Station #5 located at 2221 Prairie Avenue in the City, and (ii) the construction, erection, equipping and leasing of a fire safety training facility located generally on a 5.5 acre parcel near Sample and High Streets in the City (collectively, the “Projects”); and Whereas, the Common Council considers it necessary to pursue the financing of the Projects by the issuance of first mortgage bonds (the “Bonds”) by the City of South Bend Building Corporation (the “Building Corporation”) which would be paid from lease rental payments made by the City to the Building Corporation; and Whereas, said lease rental payments will be structured such that said lease rental payments will be paid from the Emergency Medical Service Funds (the “EMS Funds”) expected to be received by the City and, if such EMS Funds are ever insufficient, from a tax levied by the City for such purpose; and Whereas, the EMS Funds are expected to be sufficient to pay said lease rentals, and the pledge of a tax levy will be used to provide additional security to obtain a more favorable bond rating on the Building Corporation’s bonds which will provide a significant savings to the City because of the lower interest rates that a more favorable bond rating will achieve; and Whereas, because the City expects to pay said lease rentals from the EMS Funds, the Projects do not constitute “controlled projects” as provided by Indiana Code 6-1.1-20-1.1; and Whereas, the Common Council desires to hold a public hearing regarding the determination to enter into such a lease to provide for the financing of the Projects; and Whereas, the Common Council further desires to initiate a petition of taxpayers requesting the City enter into a lease of the Projects with the Building Corporation; and NOW THEREFORE, BE IT RESOLVED, by the Common Council of the City of South Bend, Indiana, as follows: Section I. The Common Council hereby authorizes a hearing to be held by this Common Council pursuant to INC. 36-1-10 for the purpose of receiving public input regarding the determination to enter into a lease for the purpose of completing a lease financing for the Projects. Such hearing shall be held at a regular meeting of the Common Council on April 22, th 2013, at 7:00 p.m. (local time), in the Council Chambers, 4 Floor, County-City Building, and South Bend, Indiana. 9