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-- ..- __-- REGULAR_.MEET.ING ,.._ -,u __ _. _ r_ - -- - NOVEMBER
<br />EXECUTION OF THE LOAN AGREEMENT, AN INDENTURE OF TRUST APPROPRIATE FOR THE
<br />PROTECTION AND DISPOSITION OF THE REVENUES FROM THE FINANCING AGREEMENT: ANr
<br />AUTHORIZING THE TERMS AND SALE OF SAID BONDS.
<br />This bill had first reading. This being the time heretofore set for public hearing
<br />on the above bill, proponents and opponents were given an opportunity to be heard.
<br />Kenneth Fedder, attorney for Economic Development Commission, made the presentation
<br />for the bill. He indicated this bond issue will be used as for the East Race
<br />Housing Project. he indicated the project will be developed as part of a major
<br />historic restoration in the Old South Bend Lathe Works. He indicated the project
<br />will consist of 25 one bedroom apartments which will be leased to Madison Center for
<br />use by chronically mentally ill persons. He indicated the project during
<br />construction will generate approximately 50 jobs with an estimated payroll of
<br />$400,000. He indicated that after completion there will be four permanent jobs
<br />created. Council Member Zakrzewski made a motion to pass this bill, seconded by
<br />Council Member Serge. The bill passed by a roll call vote of nine ayes.
<br />ORDINANCE NO. 7543 -85 AN ORDINANCE APPROVING THE FORM AND TERMS OF THE LOAN
<br />AGREEMENT, INDENTURE OF TRUST, AND ECONOMIC DEVELOPMENT
<br />REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF,
<br />AND APPROVING THE RESOLUTION OF THE SOUTH BEND EONOMIC
<br />DEVELOPMENT COMMISSION RELATING TO THE MATTHEW R. AND
<br />LYNN H. DEE PROJECT.
<br />This bill had first reading. This being the time heretofore set for public hearing
<br />on the above bill, proponents and opponents were given an opportunity to be heard.
<br />Kenneth Fedder, attorney for the Economic Development Commission, made the
<br />presentation for the bill. He indicated this bond issue would be used to finance
<br />the purchase of land and improvements and construction and equipping of additional
<br />improvements at 840 Prairie Avenue. he indicated 15 new permanent jobs will be
<br />created. Council Member Zakrzewski made a motion to pass this bill, seconded by
<br />Council Member Puzzello. The bill passed by a roll call vote of nine ayes.
<br />BILL NO. 136 -85 A BILL OF THE CITY OF SOUTH BEND, INDIANA, RE: $11,000,000 CITY
<br />OF SOUTH BEND, INDIANA, MULTI - FAMILY HOUSING REVENUE BONDS (THE
<br />RAINTREE POINT APARTMENTS PROJECT) 1985 SERIES.
<br />This bill had first reading. Council Member Puzzello made a motion to set this bill
<br />for second reading and public hearing December 2, seconded by Council Member
<br />Taylor. The motion carried.
<br />ORDINANCE NO. 7544 -85
<br />AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND,
<br />INDIANA (THE "CITY "), TO ISSUE ITS ECONOMIC DEVELOPMENT
<br />REVENUE BONDS, SERIES 1985 (HARRINGTON PROJECT), IN THE
<br />AGGREGATE PRINCIPAL AMOUNT OF FOUR HUNDRED THOUSAND
<br />DOLLARS ($400,000.00) AND APPROVING AND AUTHORIZING
<br />CERTAIN ACTIONS WITH RESPECT THERETO.
<br />This bill had first reading. This being the time heretofore set for public hearing
<br />on the above bill, proponents and opponents were given an opportunity to be heard.
<br />Kenneth Fedder, attorney for the Economic Development Commission, made the
<br />presentation for the bill. He indicated this bond issue would be used to construct
<br />a dental office on the last parcel of land in the R6 area. He indicated that three
<br />new jobs will be created. Council Member Zakrzewski made a motion to pass this
<br />bill, seconded by Council Member Taylor. The bill passed on a roll call vote of
<br />eight ayes and one nay (Council Member Puzzello.)
<br />BILL NO. 138 -85 A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS 1985 ECONOMIC DEVELOPMENT REVENUE BOND, (FRANK
<br />DARNELL PROJECT), IN THE AGGREGATE PRINCIPAL AMOUNT OF TWO
<br />MILLION FOUR HUNDRED THOUSAND DOLLARS ($2,400,000) AND APPROVING
<br />AND AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO.
<br />This bill had first reading. Council Member Voorde made a motion to set this bill
<br />for second reading and public hearing December 2, seconded by Council Member
<br />Puzzello. The motion carried.
<br />BILL NO. 139 -85
<br />A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BOND, SERIES 1985
<br />(O'BRIEN CORPORATION PROJECT), IN THE AGGREGATE PRINCIPAL AMOUNT
<br />OF TWO MILLION DOLLARS ($2,000,000.00) AND APPROVING AND
<br />AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO.
<br />This bill had first reading. Council Member Puzzello made a motion to set this bill
<br />for second reading and public hearing December 2, seconded by Council Member
<br />Braboy. The motion carried.
<br />BILL NO. 140 -85 A BILL AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "),
<br />TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BOND, SERIES 1985
<br />(HARRISON MANAGEMENT COMPANY AN INDIANA PARTNERSHIP PROJECT), IN
<br />THE AGGREGATE PRINCIPAL AMOUNT OF SEVEN HUNDRED THOUSAND DOLLARS
<br />($700,000.00) AND APPROVING AND AUTHORIZING CERTAIN ACTIONS WITH
<br />RESPECT THERETO.
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