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REGULAR MEETING NOVEMBER 9, 1981
<br />The City, in order to implement the public purposes enumerated in the Act and in
<br />furtherance thereof to induce InterLinx Corp, an Indiana corporation (the "Borrower ")
<br />to purchase land, improvements, equipment, furnishings and fixtures which will constitute
<br />an economic development facility (the "facility ") within the limits of South Bend,
<br />Indiana, has indicated its intent to issue its revenue bonds under the pursuant to
<br />the provisions of the Act and to apply the proceeds therefrom to the payment of the
<br />costs of the facility.
<br />The Borrower, in reliance upon the inte:
<br />thru the issuance of revenue bonds under the
<br />acquire and maintain the facility within the
<br />It is now deemed advisable for the City
<br />to finance the facility thru the issuance of
<br />the Act.
<br />at of the City
<br />provisions of
<br />limits of Sou
<br />to express by
<br />revenue bonds
<br />of finance the facility
<br />the Act, has determined to
<br />th Bend, Indiana.
<br />this Resolution its intent
<br />under the provisions of
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana as follows:
<br />SECTION I. The proposed facility constitutes economic development facilities
<br />which may be financed by the City through the issuance of revenue bonds pursuant to
<br />the Act, and the City is willing, upon compliance with all provisions of Indiana law,
<br />to authorize the issuance of its revenue bonds in an amount of approximately Nine
<br />Million Dollars ($9,000,000) (or such lesser amount as may be agreed upon), which
<br />bonds will not be general obligations of the City, but will be payable solely from
<br />the limited sources authorized and permitted by the Act.
<br />SECTION 2. The proposed financing will be of benefit to the health and general
<br />welfare of the persons residing in and near the City and will comply with the purposes
<br />and provisions of the Act.
<br />SECTION 3. The Borrower may proceed with the acquisition and construction of
<br />the facility in reliance upon this Resolution.
<br />SECTION 4. This resolution shall be in full force and effect from and after its
<br />passage by the Common Council and its approval by the Mayor.
<br />/s/ Lewis A. McGann
<br />Member of the Common Council
<br />A public hearing was held on the resolution. Kevin Butler, attorney for the petitioner,
<br />indicated this project involves the purchase of assets of Wheelhorse, Inc., located
<br />at 515 W. Ireland. He indicated the project costs if $15,000,000, and the bonds will
<br />be in the amount of $9,000,000. He indicated there was presently 350 individuals
<br />employed, and they propose it increase this to 550 employees. Council Member Szymkowiak
<br />made..a motion to adopt this resolution, seconded by Council Member Beck. The resolution
<br />was adopted by a roll call vote of nine ayes.
<br />RESOLUTION NO. 923 -81
<br />A RESOLUTION BY THE COMMON COUNCIL OF THE CITY OF SOUTH
<br />BEND, INDIANA, SETTING THE LEVY FOR THE CUMULATIVE SEWER
<br />BUILDING AN AND SINKING FUND FOR THE YEAR 1982.
<br />WHEREAS, the Common Council sets the levies and rates of all tax supported funds
<br />by law, and
<br />WHEREAS, the tax rates and lelvy will fluctuate as determined by the final assessed
<br />value, and
<br />WHEREAS, the intent of the Council was to raise a specific levy as opposed to
<br />setting a rate.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />that:
<br />SECTION I. For the Budget Year 1982, the Cumulative Sewer levy will be $685,930.00
<br />and the rate will be.a factor of the final assessed value for the City of South Bend.
<br />SECTION II. This resolution shall be in full force and effect from and after
<br />its passage by the Common Council, 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. Joseph Kernan, City Controller, indicated
<br />by passing this resolution the Cumulative Sewer levy will not fluctuate.with the
<br />assessed valuation. Council Member Serge made a motion to adopt this resolution,
<br />seconded by Council Member Dombrowski. The resolution was adopted by a roll call
<br />vote of nine ayes.
<br />RESOLUTION NO. 924 -81 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH
<br />BEND, INDIANA, APPROVING THE AWARD OF THREE CONTRACTS IN
<br />EXCESS OF $10,000.00 FOR THE REHABILITATION WORK IN THE
<br />COMMUNITY DEVELOPMENT PROGRAM THROUGH THE BUREAU OF
<br />HOUSING'S REHABILITATION GRANT PROGRAM.
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