07-23-73 Council Meeting Minutes

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REGULAR MEETING - RECONVENED (CONTINUED) and are hereby approved. The form of the Bond Purchase Agreement from the City to the Underwriters therein named and the form of the Indemnity Letter from Allied Products Corporation to the City and the Underwriters, copies of which are also before this Common Council, are also hereby approved. Section 4. This resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Presented by: s/ Roger Parent Councilman Adopted in Open Council this 23rd day of July, 1973. s/ Peter J. Nemeth Attest: President s/ Irene K. Gammon City Clerk Presented by me to the Mayor of the City 'of South Bend, Indiana, this 24th day of July, 1973. s/ Irene K. Gammon City Clerk Approved by me, the Mayor of the City of South Bend, Indiana, this 26th day of July, 1973. Attest: s/ Irene K. Gammon City Clerk STATE OF INDIANA ) ) -ss. COUNTY OF ST. JOSEPH) s/ Jerry J. Miller Mayor I, the undersigned, hereby certify that I am the duly qualified and acting City Clerk of the City of South Bend, St. Joseph County, Indiana, and as such official I further certify that attached hereto is a true and correct copy of Resolution No. 378 -73 as adopted by the Common Council of said city on July 23, 1973. 1973. WITNESS my official signature and the seal of the said city this 24th day of July, (SEAL) s/ Irene K. Gammon City Clerk A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the Economic Development Commission, indicated that Mr. Orrin Downs, Manager of Allied Products, was present to answer any questions the Council might have. He indicated that this project would be the largest bond issue in the amount of $3,900,000. He indicated that all documents are in com- pliance and a public hearing was held on July 16. He mentioned that this was for the purchase of additional press equipment, and there would be a minor form of construction to the existing faci- lities with the majority of the money being spent for additional equipment. He stated that 100 to 125 additional employees would be needed and, at present, the firm employed 850 persons on three shifts. He also indicated that the additional equipment would be brought into the community and is presently being installed. Mrs. Janet Allen, 125 West Marion, questioned the title of the resolu- tion pertaining to the wording "financing by the City of South Bend ". Councilman Miller felt the title pimply followed the proper form. Mr. Fedder indicated that he did not think there was a conflict in the usage of the words and that everything was covered in the body of the resolution and the documents for the issuance of the bonds. He explained that none of the bond projects are considered a legal obligation of the city, according to the statutes. Councilman Parent made a motion to amend the title of the resolution as follows: A Resolution of the City of South Bend, Indiana, approving the issuance of Economic Development Revenue Bonds (Series 1973) of the City of South Bend for economic development facilities for Allied Products Corporation. Councilman Taylor seconded the motion. Mr. Fedder indicated again that he did not think it was necessary to amend the title. Councilman Taylor could see nothing wrong with it, and Council President Nemeth indicated that the statutes read that the city approves the financing of the bond: The motion was withdrawn. Councilman Serge made a motion that the resolution be adopted, seconded by Councilman Kopczynski. The resolution passed by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth). RESOLUTION NO. 379 -73 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND APPROVING THE FOURTH YEAR CONTRACTS OF THE CITY OF SOUTH BEND'S COMPRE- HENSIVE DEMONSTRATION PROGRAM. WHEREAS, the Common Council of the City of South Bend passed Resolution Number 371 -73 approving the fourth year of the Comprehensive Demonstration Program and authorizing the execution of a Grant Agreement with the United States of America; and WHEREAS, Section 1 of that resolution states that "The application for the Program is hereby approved subject to approval of all contracts by the Common Council."