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PAM <br />seconded by Council Member Duda. The resolution was adopted by a roll <br />call vote of nine ayes. <br />BILLS. FIRST READING <br />BILL NO. 15 -88 A BILL AMENDING THE ZONING ORDINANCE FOR PROPERTY <br />LOCATED AT 641 SANCOME AVENUE IN THE CITY OF SOUTH <br />BEND, INDIANA. <br />This bill had first reading. council Member Puzzello made a motion to <br />send this bill to Area Plan, seconded by Council Member Coleman. The <br />motion carried. <br />BILL NO. 16 -88 A BILL AMENDING SECTION 6 -6.5 OF THE SOUTH BEND <br />MUNICIPAL CODE WHICH SETS FORTH RESTRICTED FIRE LIMITS. <br />This bill had first reading. Council Member Puzzello made a motion to set <br />this bill for second reading and public hearing March 28, and refer it to <br />the Public Safety Committee. <br />BILL NO. 18 -88 A BILL AMENDING THE ZONING ORDINANCE FOR PROPERTY <br />LOCATED AT THE SOUTHEAST CORNER OF LOCUST RD. & PRAIRIE <br />AV. IN THE CITY OF SOUTH BEND, INDIANA. <br />This bill had first reading. Council Member Puzzello made a motion to <br />refer this bill to Area Plan, seconded by Council Member Coleman. The <br />motion carried. <br />ORDINANCE NO. 7856 -88 AN ORDINANCE AUTHORIZING TAX ANTICIPATION <br />TIME WARRANTS FOR 1988. <br />This bill had first reading. Council Member Luecke made a motion to amend <br />this bill by substitution, seconded by Council Member Puzzello. The <br />motion carried. Council Member Luecke made a motion to suspend the rules <br />for purposes of public hearing and second reading, seconded by Council <br />Member Puzzello. The motion carried by a roll call vote of 9 ayes. <br />This being the time heretofore set for public hearing on the above bill, <br />proponents and opponents were given an opportunity to be heard. Katherine <br />Humphreys, Director of the Department of Administration and Finance made <br />the presentation on this bill. She indicated that this ordinance relates <br />to the City's need to secure a temporary loan to meet operating expenses <br />through June 30, 1988. This loan is in anticipation of and not in excess <br />of current taxes levied in 1987 and collectable in 1988. All provisions <br />of the ordinance are in conformance with the relevant State statutes that <br />define the process to be used by cities. She indicated that the City has <br />a cash flow shortage and needs to issue $6.38 million in tax anticipation <br />warrants. Joe Guentert, 3510 Corby, spoke opposed to the bill. He <br />questioned the amount of the tax anticipation time warrants. He stated <br />that the dollar amount was double that of what the City has first <br />mentioned in an informal meeting. Roman Kowalski, 802 Birchwood, spoke <br />opposed to the bill. He indicated that the tax anticipation time warrants <br />was not a good idea for the City. Council Member Coleman made a motion to <br />recommend this bill to the Council favorable as amended, seconded by <br />Council Member Niezgodski. The motion carried by a roll call vote of nine <br />ayes. <br />This bill had second reading. Council Member Coleman made a motion to to <br />pass this bill, as amended, seconded by Council Member Niezgodski. This <br />bill passed by a roll call vote of nine ayes. <br />ORDINANCE NO. 7857 -88 AN ORDINANCE AUTHORIZING THE CITY OF SOUTH <br />BEND, INDIANA, TO ISSUE ITS "CITY OF SOUTH <br />BEND, INDIANA, DEMAND MULTI - FAMILY HOUSING <br />REFUNDING BONDS, SERIES 1988 ( RAINTREE POINT <br />ASSOCIATES PROJECT) LOAN" THE PROCEEDS <br />THEREOF TO RAINTREE POINT ASSOCIATES, LTD., <br />AN INDIANA LIMITED PARTNERSHIP, AND <br />AUTHORIZING AND APPROVING OTHER ACTIONS IN <br />RESPECT THERETO. <br />This bill had first reading. Council Member Luecke made a motion to amend <br />this bill by substitution, seconded by Council Member Coleman. The motion <br />carried. Council Member Luecke made a motion to suspend the rules to <br />allow for public hearing and second reading, seconded by Council Member <br />Coleman. The motion carried by a roll call vote of nine ayes. <br />This being the time heretofore set for public hearing on the above bill, <br />proponents and opponents were given an opportunity to be heard. Ken <br />Fedder, Attorney for the Economic Development Commission, made the <br />presentation on this bill. He indicated that the project was formerly <br />known as the Raintree Point Apartment Project, and the ordinance in <br />question will transfer $11 million dollars in Multifamily housing revenue <br />bonds. Jon Hunt, Director, Redevelopment Department, indicated that the <br />project will construct 200 luxury apartment units. He indicated that the <br />apartments are to built on a site located north of LaSalle Av. in the <br />