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RESOLUTION NO. 'o g 9 - -?
<br />AN INDUCEMENT RESOLUTION RELATING
<br />TO THE HABLIN COMPANY, INC. PROJECT
<br />WHEREAS, pursuant to I.C. 18- 6 -4.5, the Common Council
<br />of the City of South Bend, Indiana created the South Bend Economic
<br />Development Commission, which Commission heretofore has investigated,
<br />studied, surveyed and reported to the Mayor and the Common Council
<br />of the City of South Bend, Indiana, that a need exists in the
<br />community for additional job opportunities and commercial and
<br />industrial diversification within the City of South Bend, Indiana;
<br />and in order to improve and Promote job opportunities, commercial
<br />diversification, and the general welfare of the area within the
<br />City of South Bend, Indiana, a financing agreement should be entered
<br />into with iiablin Company, Inc., or its assigns, relating to a project
<br />to be known as the "Hablin Company, Inc. Project "; and
<br />WHEREAS, Hablin Company, Inc. is an existing corporation
<br />established in the trade or business of renting commercial and
<br />office property and desires to expand substantially its operations
<br />with the result that it will obtain a substantial number of new
<br />tenants who will employ a substantial number of employees and be
<br />the principal users for such purpose of a building on real estate
<br />located in the City of South Bend, Indiana, which real estate is
<br />now owned by parties commonly referred to as the Livingston heirs,
<br />and which property comprises a 3 story building located on real
<br />estate described as 42 feet in width north and south taken off of the
<br />entire length of the north side of Lot 287 as shown on the original
<br />Plat of the Town, now City of South Bend; and
<br />WHEREAS, to induce Hablin Company, Inc., or its assigns,
<br />to become the principal user of such Economic Development Facilities,
<br />the Common Council of the City of South Bend desires to adopt this
<br />resolution; and -
<br />WHEREAS, it is apparent that the development of the Hablin
<br />Company, Inc. Project will increase job opportunities and commercial
<br />diversification in South Bend, Indiana, resulting in benefit to the
<br />welfare of the public in the City of South Bend, Indiana, and in
<br />St. Joseph County, Indiana.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the
<br />City of South Bend, Indiana, as follows:
<br />SECTION 1. That approval is hereby given to the application
<br />of Hablin Company, Inc., or its assigns, relating to the acquisition
<br />of such building and real estate located in South Bend, Indiana, and
<br />the construction and reconstruction of the same wherein Industrial
<br />Revenue Bonds would be issued by the City of South Bend, Indiana,
<br />for an amount not exceeding Five Hundred Thirty Thousand ($530,000.00)
<br />Dollars, repayable with interest thereon over a period of time and
<br />with a maturity date which does not extend beyond thirty (30) years
<br />after the issue date.
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