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REGULAR MEETING OCTOBER 24, 1977
<br />REGULAR MEETING RECONVENED (CONTINUED
<br />E X H I B I T B TO L E A S E
<br />WATERWORKS FACILITIES
<br />INTEREST FACTOR: 70
<br />PURCHASE PRICE WATERWORKS
<br />FACILITIES BEFORE RENTAL
<br />PAYMENT: $708,875.00
<br />Based on Purchase
<br />Price and Interest
<br />Factor of 7% *
<br />330,039.93
<br />311,369.33
<br />292,045.26
<br />272,044.84
<br />251,344.41
<br />229,919.46
<br />207,744.64
<br />184,793.70
<br />161,039.48
<br />136,453.86
<br />111,007.75
<br />84,671.02
<br />57,412.51
<br />29,199.95
<br />-0-
<br />*Stated purchase prices listed herein for each date are only applicable if the applicable lease
<br />rental payment has been made and all other payments are current at the purchase date.
<br />ORDINANCE NO. 6244 -77 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF
<br />SOUTH BEND, INDIANA, APPROVING THE LEASE OF SEWAGE
<br />DISPOSAL FACILITIES OF CLAY UTILITIES, INC.
<br />This bill had second reading. Council Member Taylor made a motion to pass the
<br />seconded by Council Member Dombrowski. The bill passed by a roll call vote of
<br />Members Serge, Szymkowiak, Miller, Taylor andDombrowski) and four nays (Council
<br />Adams, Horvath and Parent.)
<br />ORDINANCE NO. 6244 -77
<br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY
<br />OF SOUTH BEND, INDIANA, APPROVING THE LEASING
<br />OF SEWAGE DISPOSAL FACILITIES OF CLAY UTILITIES,
<br />INC.
<br />STATEMENT OF PURPOSE AND INTENT
<br />bill, as amended,
<br />five ayes (Council
<br />Members Kopczynsk
<br />Negotiations have been conducted for the leasing of the sewage disposal facilities currently
<br />owned and operated by CLAY UTILITIES, INC., in that part of its Service Area being that portion
<br />of Clay Township, St. Joseph County, Indiana, lying North of the Indiana East -West Toll Road,
<br />West of Hickory Road extended and East of the center line of the New York Central right -of -way,
<br />plus that portion of the Town of Roseland lying South of said Toll Road pursuant to the provision
<br />of Public Law 211 of the Acts of the Indiana General Assembly for the year 1975.
<br />CLAY UTILITIES, INC., is a sewage disposal company holding a certificate of territorial
<br />authority for the operation of a sewage.disposal facility and as such is authorized by the above
<br />mentioned act to lease said portion of its sewage disposal facilities to the CITY OF SOUTH BEND,
<br />INDIANA, and has assisted in the drafting and preparation of a proposed lease for said sewage
<br />disposal facilities.
<br />A notice of a hearing on the proposed lease was given by publication in The South Bend
<br />Tribune, South Bend, Indiana, and said hearing has been held in accordance with said notice;
<br />THAT: NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,
<br />Based on Purchase
<br />Due Date of
<br />Price and Interest
<br />Due Date of
<br />Rental Payment
<br />Factor of 7 %*
<br />Rental Payment
<br />1
<br />703,464.33
<br />36
<br />2
<br />697,863.58
<br />37
<br />3
<br />692,066.81
<br />38
<br />4
<br />686,067.15
<br />39
<br />5
<br />679,857.50
<br />40
<br />6
<br />673,430.51
<br />41
<br />7
<br />666,778.58
<br />42
<br />8
<br />659,893.83
<br />43
<br />9
<br />652,768.11
<br />44
<br />10
<br />645,392.99
<br />45
<br />11
<br />637,759.74
<br />46
<br />12
<br />629,859.33
<br />47
<br />13
<br />621,682.41
<br />48
<br />14
<br />613,219.29
<br />49
<br />15
<br />604,459.97
<br />50
<br />16
<br />595,394.07
<br />17
<br />586,010.86
<br />18
<br />576,299.24
<br />19
<br />566,247.71
<br />20
<br />555,844.38
<br />21
<br />545,076.93
<br />22
<br />533,932.62
<br />23
<br />522,398.26
<br />24
<br />510,460.20
<br />25
<br />498,104.31
<br />26
<br />485,315.96
<br />27
<br />472,080.02
<br />28
<br />458,380.82
<br />29
<br />444,202.15
<br />30
<br />429,527.23
<br />31
<br />414,338.68
<br />32
<br />398,618.53
<br />33
<br />382,348.18
<br />34
<br />365,508.37
<br />35
<br />348,079.16
<br />Based on Purchase
<br />Price and Interest
<br />Factor of 7% *
<br />330,039.93
<br />311,369.33
<br />292,045.26
<br />272,044.84
<br />251,344.41
<br />229,919.46
<br />207,744.64
<br />184,793.70
<br />161,039.48
<br />136,453.86
<br />111,007.75
<br />84,671.02
<br />57,412.51
<br />29,199.95
<br />-0-
<br />*Stated purchase prices listed herein for each date are only applicable if the applicable lease
<br />rental payment has been made and all other payments are current at the purchase date.
<br />ORDINANCE NO. 6244 -77 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF
<br />SOUTH BEND, INDIANA, APPROVING THE LEASE OF SEWAGE
<br />DISPOSAL FACILITIES OF CLAY UTILITIES, INC.
<br />This bill had second reading. Council Member Taylor made a motion to pass the
<br />seconded by Council Member Dombrowski. The bill passed by a roll call vote of
<br />Members Serge, Szymkowiak, Miller, Taylor andDombrowski) and four nays (Council
<br />Adams, Horvath and Parent.)
<br />ORDINANCE NO. 6244 -77
<br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY
<br />OF SOUTH BEND, INDIANA, APPROVING THE LEASING
<br />OF SEWAGE DISPOSAL FACILITIES OF CLAY UTILITIES,
<br />INC.
<br />STATEMENT OF PURPOSE AND INTENT
<br />bill, as amended,
<br />five ayes (Council
<br />Members Kopczynsk
<br />Negotiations have been conducted for the leasing of the sewage disposal facilities currently
<br />owned and operated by CLAY UTILITIES, INC., in that part of its Service Area being that portion
<br />of Clay Township, St. Joseph County, Indiana, lying North of the Indiana East -West Toll Road,
<br />West of Hickory Road extended and East of the center line of the New York Central right -of -way,
<br />plus that portion of the Town of Roseland lying South of said Toll Road pursuant to the provision
<br />of Public Law 211 of the Acts of the Indiana General Assembly for the year 1975.
<br />CLAY UTILITIES, INC., is a sewage disposal company holding a certificate of territorial
<br />authority for the operation of a sewage.disposal facility and as such is authorized by the above
<br />mentioned act to lease said portion of its sewage disposal facilities to the CITY OF SOUTH BEND,
<br />INDIANA, and has assisted in the drafting and preparation of a proposed lease for said sewage
<br />disposal facilities.
<br />A notice of a hearing on the proposed lease was given by publication in The South Bend
<br />Tribune, South Bend, Indiana, and said hearing has been held in accordance with said notice;
<br />THAT: NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,
<br />
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