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REGULAR MEETING SEPTEMBER 10 1973 <br />.. u <br />COMMITTEE OF THE WHOLE MEETING (CONTINUED) <br />the attorney representing A. H. Choitz & Company. Mr. McGill indicated that the firm has been an <br />established firm for many years and that the city's tax base would be increased by the issuance of <br />the bonds. Councilman Szymkowiak asked if the firm was located in South Bend, and Mr. McGill <br />indicated that it was leasing out of the city because it could not relocate within the city. <br />Councilman Szymkowiak was of the opinion that the firms desiring the use of the revenue bonds shout <br />be located within the City of South Bend or, at least, consideration should be given to moving intc <br />the city. Mr. Fedder indicated that the bonds are authorized in order to keep a company within the <br />locality. He stated that the city was benefiting from this even though the firm might perhaps be <br />located outside the city limits. <br />Councilman Parent made a motion that the ordinance go to the Council as favorable, seconded by <br />Councilman Taylor. The motion carried. <br />ORDINANCE AN ORDINANCE AUTHORIZING THE EXECUTION OF <br />A LEASE AND TRUST INDENTURE AND ECONOMIC <br />DEVELOPMENT REVENUE BONDS AND THE FORM AND <br />TERMS OF THE LEASE AND TRUST INDENTURE AND <br />BONDS AND THE ISSUANCE OF ECONOMIC DEVELOPMENT <br />REVENUE BONDS PERTAINING TO FBT BANCORP, INC. <br />This being the time heretofore set for public hearing on the above ordinance, proponents and <br />opponents were given an opportunity to be heard. Mr. Kenneth Fedder, Attorney for the Economic <br />Development Commission, made the presentation for the ordinance. He explained that FBT Bancorp <br />was located in South Bend and had almost left the city at one time. He explained that, through <br />the efforts of the Economic Development Commission, the company would now be located in the Airport <br />Industrial Park. He stated that the firm is presently leasing area in South Bend. He indicated t< <br />the Council that an amendment to the ordinance was in order and that the bonds were to be issued <br />for a period not to exceed fifteen years' duration rather than fourteen years as the ordinance <br />indicated. <br />Council President Nemeth made a motion to amend the ordinance as indicated by Mr. Fedder, seconded <br />by Councilman Parent. The motion carried. Councilman Miller then made a motion that the amended <br />ordinance go to the Council as favorable, seconded by Councilman Taylor. The motion carried. <br />ORDINANCE AN ORDINANCE AUTHORIZING THE EXECUTION OF <br />A LEASE AND TRUST INDENTURE AND ECONOMIC <br />DEVELOPMENT REVENUE BONDS AND THE FORM AND <br />TERMS OF THE LEASE AND TRUST INDENTURE AND <br />BONDS AND THE ISSUANCE OF ECONOMIC DEVELOPMENT <br />REVENUE BONDS PERTAINING TO ED J. LUTHER <br />BEVERAGES, INC. <br />This being the time heretofore set for public hearing on the above ordinance, proponents and <br />opponents were given an opportunity to be heard. Chairman Newburn indicated that this ordinance <br />was similar to the preceding revenue bond ordinances. There were no comments or questions. <br />Councilman Taylor made a motion that the ordinance go to the Council as favorable, seconded by <br />Councilman Kopczynski. The motion carried. <br />ORDINANCE AN ORDINANCE AUTHORIZING THE EXECUTION OF <br />A LEASE AND TRUST INDENTURE AND ECONOMIC <br />DEVELOPMENT REVENUE BONDS AND THE FORM AND <br />TERMS OF THE LEASE AND TRUST INDENTURE AND <br />BONDS AND THE ISSUANCE OF ECONOMIC DEVELOPMENT <br />REVENUE BONDS PERTAINING TO SINGER GENERAL TIRE, <br />INC. <br />This being the time heretofore set for public hearing on the above ordinance, proponents and <br />opponents were given an opportunity to be heard. Chairman Newburn indicated that this ordinance <br />was similar to the preceding revenue bond ordinances. There were no comments or questions. <br />Councilman Kopczynski made a motion that the ordinance go to the Council as favorable, seconded <br />by Councilman Taylor. The motion carried. <br />ORDINANCE AN ORDINANCE AUTHORIZING THE EXECUTION OF <br />A LEASE AND TRUST INDENTURE AND ECONOMIC <br />DEVELOPMENT REVENUE BONDS AND THE FORM AND <br />TERMS OF THE LEASE AND TRUST INDENTURE AND <br />BONDS AND THE ISSUANCE OF ECONOMIC DEVELOPMENT <br />REVENUE BONDS PERTAINING TO WELLS ELECTRONICS, <br />INC. <br />This being the time heretofore set for public hearing on the above ordinance, proponents and <br />opponents were given an opportunity to be heard. Councilman Szymkowiak indicated that he desired <br />a list of the firms that have been issued bonds that are located in South Bend. <br />Councilman Taylor made a motion that the ordinance go to the Council as favorable, seconded by <br />Councilman Parent. The motion carried. <br />ORDINANCE AN ORDINANCE FOR AN ADDITIONAL APPROPRIATION <br />OF $8,030.00 FROM THE FEDERAL ASSISTANCE <br />GRANT FUND, COMMONLY KNOWN AS GENERAL REVENUE <br />SHARING, TO ACCOUNT 722, "PROPERTIES ", OF THE <br />FEDERAL ASSISTANCE PROGRAM FA -5, "MOTOR VEHICLE <br />HIGHWAY EQUIPMENT ", TO BE ADMINISTERED BY THE <br />CITY OF SOUTH BEND, INDIANA, THROUGH ITS <br />DEPARTMENT OF PUBLIC WORKS. <br />This being the time heretofore set for public hearing on the above ordinance, proponents and <br />opponents were given an opportunity to be heard. Mr. Donald Decker, Manager of the Bureau of <br />Streets, made the presentation for the ordinance. He explained that the request was made for the <br />