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DE
<br />REGULAR MEETING - RECONVENED (CONTINUED)
<br />ER 17, 1973
<br />coming from the private and public sector and there would also be donations from various trust
<br />funds. Councilman Taylor made a motion to insert the date of December 14 in Section I of the
<br />resolution, seconded by Councilman Miller. The motion carried.
<br />Councilman Taylor then made a motion that the resolution be adopted, as amended, seconded by
<br />Councilman Miller. The resolution passed by a roll call vote of eight ayes (Councilmen Serge,
<br />Szymkowiak, Miller, Parent, Taylor, Kopczynski, Newburn and Nemeth) and one nay (Councilman Horva
<br />RESOLUTION NO. 402 -73
<br />A RESOLUTION TO APPROVE THE BONDING
<br />CONSULTANT PHASE OF THE CIVIC CENTER
<br />PROJECT.
<br />WHEREAS, Ordinance No. 5503 -73, passed April 9, 1973, appropriated $500,000.00 for
<br />various Civic Center expenses and established a budget line item of $273,000.00 for
<br />Architect's Fees, Design and Special Reports; and
<br />WHEREAS, the South Bend Civic Center Authority has been created by the Common
<br />Council of the City of South Bend, Indiana, and that the Authority has proceeded with
<br />preliminary architectural and design plans in connection with the proposed building and
<br />has explored general means of financing but that the type or types of financing vehicles
<br />and respective amounts thereof have not been established; and
<br />WHEREAS, the independent municipal finance consultants, Paul D. Spear and
<br />Associates, with experience in the development of financing plans and the resulting
<br />marketing of municipal bonds in excess of $1.75 Billion, has been recommended by the
<br />Authority to the City to develop a plan which will result in the marketing of the
<br />necessary bonds to complete the proposed project,
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana:
<br />SECTION I. That the proposed Contract pertaining to the Financial Development Phase
<br />approved by the Civic Center Authority on December 7, 1973, is hereby approved.
<br />SECTION II. This Resolution shall be in full force and effect from and after its
<br />adoption by the Common Council and approval by the Mayor.
<br />s/ Peter J. Nemeth
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Charles Lennon, Contract Administrai
<br />for the Civic Center Authority, explained that the Board of Public Works and the Authority had
<br />approved the hiring of Paul D. Spear & Associates for the financing of the Civic Center plan. He
<br />stated that now Council approval was needed. He indicated that a marketing of the bonds would be
<br />prepared and the whole financial package would be prepared by the firm. The services in full woulc
<br />be a minimum of $5,000. If revenue bonds are issued, the amount would be higher. Council
<br />President Nemeth stated that, in the event the city should go through the Economic Development
<br />Commission, there should be a clause contained in the agreement where it would not apply to those
<br />types of bonds. He did not know if the city should be paying a fee on that type of program.
<br />Councilman Miller stated that the purpose was to sell the bonds and, in order to do that, it was
<br />necessary to get qualified people outside the city to rate them. He stated that even a revenue
<br />bond would have to be handled in this way. Council President Nemeth stated that the Economic
<br />Development Commission bond was a technical -type bond. Mr. Lennon believed that there was a
<br />clause that exempted use of the bonds for convention centers. Mr. James Roemer, City Attorney,
<br />could see no objection to putting in a clause stating that, in the event the city desires Economic
<br />Development Commission bonds, there would be no charge by Paul Spear & Associates. He stated that
<br />the project would be financed through many sources. Mr. James Barcome, City Controller, stated
<br />that, regarding the Spear package, the firm would tell the city which way would be the best way to
<br />go as far as financing. The firm would guide the city in every area of financing, and he felt the
<br />contract with Spear was one of the better contracts the city had. Mrs. Janet Allen, 125 West
<br />Marion Street, asked where the revenue would be established to pay off the bonds. Council
<br />President Nemeth stated that he was talking about Economic Development Revenue bonds and that,
<br />presently, these bonds would not be applicable. Mr. Lennon indicated that there were many
<br />possibilities for revenue, one such source from the Hotel -Motel Tax Board, leases from various
<br />restaurants, etc. He stated that the concept of the Economic Development Revenue bonds was not
<br />included in the contract.
<br />Miss Virginia Guthrie, Executive Secretary of the Civic Planning Association, asked if Spear would
<br />be doing a feasibility study, and Mr. Lennon indicated that the firm would do just that. It would
<br />include the entire concept of the financing. Miss Guthrie stated that there was a serious error
<br />made on the garages and financing. She hoped this same thing would not happen again with the
<br />Civic Center. Councilman Serge asked for an estimate that the city could expect to receive on
<br />donations, and Mr. Lennon stated that there would be a general fund - raising program for the Civic
<br />Center. Possibly four million dollars could be raised from that source. Another possible two
<br />million dollars could come from the Hotel -Motel tax., etc.
<br />Councilman Miller made a motion that the resolution be adopted, seconded by Councilman Szymkowiak.
<br />The resolution passed by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller,
<br />Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth).
<br />RESOLUTION NO. 403 -73
<br />A RESOLUTION OF THE COMMON COUNCIL OF
<br />THE CITY OF SOUTH BEND COMMENDING PAUL
<br />F. BOEHM, DIRECTOR OF THE DEPARTMENT
<br />OF RECREATION.
<br />WHEREAS, PAUL F. BOEHM, Director of the Department of Recreation, is retiring
<br />from his office; and
<br />WHEREAS, PAUL F. BOEHM was the first and has been the only Director of the
<br />Department of Recreation; and
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