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RESOLUTION NO. 3
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br /> OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN
<br /> THE MATTER OF VANDERHEYDEN DISTRIBUTING, INC.
<br /> OF SOUTH BEND, INDIANA
<br /> WHEREAS, Vanderheyden Distributing, Inc. , has submitted
<br /> its intention to the Economic Development Commission of South
<br /> Bend to purchase real property and construct a facility in the
<br /> Airport Industrial Park - Phase II, in St. Joseph County, Indiana.
<br /> WHEREAS, the Economic Development Commission, pursuant
<br /> to the Statute, has found by written resolution that there exists
<br /> insufficient employment opportunities and that the economic
<br /> welfare of the City of South Bend, Indiana, would be benefited
<br /> and the purpose of the statute would be accomplished by the
<br /> acquisition and leasing of the above described property to
<br /> Vanderheyden Distributing, Inc. , and
<br /> WHEREAS, Vanderheyden Distributing, Inc. , has submitted a
<br /> statement of public service to the above Economic Development
<br /> Commission of the City of South Bend and said Commission has
<br /> forwarded this statement of public service with their approval and
<br /> comments to the South Bend School Corporation, a copy of which is
<br /> attached, and
<br /> WHEREAS, the affirmative response and anaylsis of the
<br /> South Bend School Corporation has been received as presented to
<br /> the Clerk of the City of South Bend and attached, and
<br /> WHEREAS, the statement of public service by Vanderheyden
<br /> Distributing, Inc. , and the Economic Development Commission of the
<br /> City of South Bend have been submitted for approval and comments to
<br /> the Area Plan Commission of St. Joseph County and the affirmative
<br /> action and comments of the Area Plan Commission have been received
<br /> by the Clerk of the City of South Bend, as attached, and
<br /> WHEREAS, the requirement of the application as described
<br /> in the "Municipal Economic Development Act of 1965 , of the State of
<br /> Indiana" as amended have therefore been met to this point, including
<br /> a projection of the number of jobs created, the estimated payroll
<br /> created and the approximation of the cost of the land and construction,
<br /> and the impact on utilities and fire and police facilities of the
<br /> City of South Bend with the approvals of the school corporation and
<br /> the Area Plan Commission have jurisdiction of the Area in which the
<br /> proposed facility is to be built, and
<br /> WHEREAS, Vanderheyden Distributing, Inc. , seeks approximately
<br /> $250 , 000. 00 from an issue of revenue bonds of the Economic Development
<br /> Commission of the City of South Bend to be signed by its Mayor and
<br /> by its City Clerk and further desires to enter into a lease of not
<br /> to exceed 15 years duration to be known as a net net net lease
<br /> sufficient to pay the principal and interest of these bonds and obtain
<br /> title at the end of thelease, and
<br /> WHEREAS, by virtue of the net net net lease , the Vanderheyden
<br /> Distributing, Inc. , indicates its intention to pay all expenses of
<br /> the operation, maintenance, insurance, property taxes , whatever of
<br /> the facility.
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