|
REGULAR MEETING DECEMBER 8, 1980
<br />REGULAR MEETING RECONVENED (CONTINUED)
<br />A public hearing was held on the resolution at this time. Council President McGann in-
<br />dicated there was an excess in car allowance and not enough in travel. He indicated that
<br />the travel this year had been very modest, by comparison, but there were several things
<br />coming up in December dealing with police and fire wage negotiations that we need the
<br />flexabilty to make a few short trips. Council Member Kopczynski made a motion to adopt
<br />this resolution, seconded by Council Member Taylor. The resolution was adopted by a roll
<br />call vote of eight ayes and one nay (Council Member Crone.)
<br />RESOLUTION NO. 842 -80 A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA,
<br />RELATING TO MICHIANA TELECASTING CORP.
<br />WHEREAS, pursuant to I.C. 18- 6 -4.5, the Common Council of the City of South Bend,
<br />Indiana created the South Bend Economic Development Commission, which Commission, fol-
<br />lowing an investigation and survey, has determined that need exists in the community for
<br />additional job opportunities and commercial and industrial diversification. That in
<br />order to improve the promote job opportunities, commercial diversification and the general
<br />welfare of the community, certain contractual agreements should be entered into with
<br />Michiana Telecasting Corp. relating and allowing it to construct and equip a building to
<br />be an economic development facility used to operate a radio and telecasting station at the
<br />northeast corner of Dorr Road and U.S. 31 -33, St. Joseph County, Indiana.
<br />WHEREAS, the economic welfare of the City would be benefited by the acquisition and
<br />building of economic development facilities pursuant to the provisions of Indiana Code
<br />18 -6 -4.5 (the "Act "); and
<br />WHEREAS, Michiana Telecasting Corp., an Indiana corporation ( "Michiana ") purposes
<br />to acquire, build, and purchase equipment for an economic development facility as defined
<br />in the Act for the oepration of a radio and telecasting station if the City will finance
<br />costs of such economic development facilities pursuant to the Act and it is apparent that
<br />the development of this project will increase job opportunities and commercial diversifica-
<br />tion in the City of South Bend, and St. Joseph County, Indiana, resulting in benefit to the
<br />welfare of the public in the CIty of South Bend and St. Joseph County, Indiana; and
<br />WHEREAS, to induce Michiana to develop this project and become the principal user
<br />thereof, the South Bend Common Council desires to adopt this resolution.
<br />NOW, THEREFORE, the Common Council of the City of South Bend, Indiana resolves
<br />the following.
<br />1. Approval is hereby given to the application of Michiana relating to the acquisi-
<br />tion of such economic development facilities, and the installment of other such facilities
<br />wherein industrial Revenue Bonds would be issued by the City of South Bend, Indiana for an
<br />amount not exceeding Three Million Dollars ($3,000,000.00), payable with interest thereon
<br />at a rate., or rates to.be determined prior to the sale of said bonds over a term of not
<br />to exceed twenty -five (25) years from and after the economic development facilities are
<br />all placed in use.
<br />2. In order to encourage, induce and solicit such application by Michiana for such
<br />Industrial Revenue Bond issue relating to its - acquisition anchnstallation of such Economic
<br />Development Facilities, the South BendCommon Council shall proceed to cooperate with and
<br />take such action as may be necessary to cause such Industrial Revenue Bonds to be issued
<br />including the drafting of documents or the performance of such other acts as will facilita
<br />the issuance of such Industrial Revenue Bonds by the City of South Bend, Indiana, to pro-
<br />vide funds to be used toward the payment of the costs of the purchase and .building for an
<br />economic development facility.
<br />3. Any costs or expenses incurred in connection with the said Michiana Project sha
<br />be included in theproject costs and reimbursed from th e -- proceeds of the Industrial Revenue
<br />Bonds to be issued with respect thereto.
<br />4. That the liability and obligation of the Common Council of the City of South
<br />Bend and the City of South Bend, Indiana shall be limited solely to good faith efforts to
<br />consummate such proceedings and issue such bonds, and neither the South Bend Common Counci
<br />nor the City of South Bend, Indiana, or its officers or agents, shall incur any liability
<br />whatsoever if for any other reason the proposed issuance of such bonds is not consummated.
<br />5. Michiana may proceed with the acquisition and construction of the economic
<br />development facilities in reliance upon this resolution.
<br />6. This resolution shall be in full force and effect from and after its passage
<br />by the Common Council of the City of South Bend and approval by the Mayor.
<br />/s/ Lewis A. McGann
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Kenneth.Fedder, attorney
<br />for the Economic Development Commission, indicated that this was an application for a
<br />$3,000,000 bond issue, channel WNDU. He indicated this was for the construction of an
<br />entirely new facility. Council Member Serge made a motion to adopt this resolution,.
<br />seconded by Council Member Beck. The resolution was adopted by a roll call vote of nine
<br />ayes.
<br />f
<br />1
<br />L
<br />
|