Laserfiche WebLink
DU COMB, NIMTZ & DU COMB <br />ATTORNEYS AT LAW <br />CHESTER L. DU COMB, 1954 INCOME BUILDING <br />ROBERT J. DU COMB, SR. 511 W. COLFAX AVENUE TELEPHONE <br />F. JAY NIMTZ SOUTH BEND,INDIANA 46801 233 -3147 <br />ROBERT J. DU COMB, JR. AREA CODE 219 <br />April 9, 1980 <br />Mrs. Irene K. Gammon <br />City Clerk <br />County -City Building <br />South Bend, Indiana 46601 <br />Re: Inducement Resolution <br />Economic Development Bond Issue <br />Masterbilt, Inc. <br />Dear Mrs. Gammon: <br />Enclosed is a proposed Inducement Resolution by which the Common <br />Council induces Masterbilt, Inc. to submit an application for up <br />to $90,000 of Economic Development Bonds repayable with interest <br />thereon at the market rate as of the date of final approval of <br />the bonds over a period of five years to finance the purchase of <br />additional equipment to be used for the manufacturing of machine <br />parts. <br />This project should produce a minimum of 1 - 3 additional jobs <br />having an annual payroll of $30,000. This Inducement Resolution <br />is needed so that Masterbilt, Inc. may begin purchase negotia- <br />tions shortly. If immediate action is not taken, the delay <br />could result in the loss of the above mentioned jobs. <br />We are requesting that you place this Inducement Resolution on <br />the agenda for the consideration of the Common Council at its <br />April 14 meeting. <br />Enclosed is a copy of the Inducement Resolution which was passed <br />by the Economic Development Commission at its April 8 meeting. We <br />are also including 9 copies of this letter and request that you <br />distribute them to the Council members. <br />Thank you very much for your cooperation in this matter. <br />Sincerely,," � <br />Lq �� <br />Robert DuComb, Sr. <br />RJDsr:mp <br />Enclosures <br />CC: Mr. Kenneth P. Tedder <br />Masterbilt, Inc. <br />