REGULAR MEETING AUGUST 28, 1972
<br />RESOLUTION NO. 325 -72 (CONTINUED)
<br />project enjoy the exemption provided therein.
<br />NOW, THEREFORE, be it hereby resolved by the Common Council of the City of South Bend, Indiana,
<br />that the City hereby elects, pursuant to Section 103 (c) (6) (D) of the Internal Revenue Code,
<br />as amended, and Internal Revenue Service Regulation Section 1.103 -10 to have the provisions
<br />thereof as to the $5,000,000 or less exemption apply to the issue of Economic Development
<br />Revenue Bonds relating to Royal Inn of South Bend a Limited Partnership project and authorizes
<br />the Mayor of such City, or in his absence the Controller, to execute and file the statement of
<br />such election with the District Director or Director of the Internal Revenue Service Center
<br />where Royal Inn of South Bend, a Limited Partnership, is required to file its income tax returns
<br />prior to the issuance of such Economic Development Revenue Bonds and provide a copy of such
<br />statement for attachment to the income tax return of Royal Inn of South Bend, a Limited
<br />Partnership.
<br />/s/ Peter J. Nemeth
<br />President of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Deahl explained that this
<br />resolution is similar to the previous one and is for the same purpose for the Department of
<br />Internal Revenue. It provides that the city elect to take the benefit of an exemption on these
<br />bonds. Councilman Serge made a motion that the resolution be adopted, seconded by Councilman
<br />Szymkowiak. The resolution was adopted by a roll.call vote of eight ayes (Councilmen Serge,
<br />Szymkowiak, Miller, Taylor, Kopczynski, Horvath, Newburn and Nemeth) one absent (Councilman
<br />Parent).
<br />UNFINISHED BUSINESS
<br />REPORT FROM AREA PLAN COMMISSION
<br />M
<br />"
<br />The Honorable Common Council August 16, 1972
<br />City of South Bend
<br />County -City Building
<br />South Bend, Indiana 46601
<br />In Re: A proposed ordinance and site development plan of Associates
<br />Bancorp, Inc. to zone from "A" Residential, "A" Height and
<br />Area to "C" Commercial, "C" Height and Area, property on
<br />Ireland Road.
<br />Gentlemen:
<br />The attached rezoning petition of Associates Bancorp, Inc. was legally
<br />advertised August 5, 1972 and August 12, 1972. The Area Plan Commission
<br />gave it public hearing August 15, 1972 at which time the following action
<br />was taken:
<br />"Upon motion made by Joseph Bajdek, seconded by Elmer Mitchell
<br />and unanimously carried, the petition of Associates Bancorp, Inc.
<br />to zone from "A" Residential to "C" Commercial is returned to
<br />the Common Council with a favorable recommendation by the Area
<br />Plan Commission with the suggestion that this property be tied
<br />in with future "C -2" zoning in the immediate area."
<br />The deliberations of the Area Plan Commission and points considered
<br />in arriving at the above decision are shown in excerpts of the minutes and
<br />will be forwarded to you at a later date to be made a part of this reporti
<br />Very truly yours,
<br />Howard Bellinger
<br />Executive Director
<br />HB:ld
<br />Attach.
<br />CC: Jack C. Dunfee, Jr., Attorney at Law
<br />Joseph T. Helling, Attorney at Law
<br />m
<br />Councilman Taylor made a motion that the ordinance referred to in this report be set for public
<br />bearing and third reading on September 11, 1972. Seconded by Councilman Horvath and carried.
<br />REPORT FROM AREA PLAN COMMISSION
<br />I
<br />"
<br />The Honorable Common Council August 16, 1972
<br />City of South Bend
<br />County -City Building
<br />South Bend, Indiana 46601
<br />In Re: A proposed ordinance and site development plan of Associates
<br />Bancorp, Inc. to zone from A Residential, A Height and Area
<br />to "C" Commercial, property on Lincolnway West.
<br />Gentlemen:
<br />The attached rezoning petition of Associates Bancorp, Inc. was legally
<br />advertised August 5, 1972 and August 12, 1972. The Area Plan Commission
<br />gave it public hearing August 15, 1972 at which time the following action
<br />was taken;
<br />
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