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RESOLUTION NO. 3 6 7- -2,3
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br /> OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN
<br /> THE MATTER OF SINGER GENERAL TIRE, INC. , OF
<br /> SOUTH BEND , INDIANA
<br /> WHEREAS, Singer General Tire , Inc. , has submitted its
<br /> intention to the Economic Development Commission of South Bend,
<br /> to purchase real estate and construct facilities at the corners
<br /> of Willis and Vaness Streets , just off Indiana #23, in St. Joseph
<br /> 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 Singer
<br /> General Tire, Inc. , and
<br /> WHEREAS, Singer General Tire, 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
<br /> and comments to the South Bend School Corporation, a copy of
<br /> which is attached, and
<br /> WHEREAS, the affirmative response and analysis 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 Singer
<br /> General Tire, Inc. , and the Economic Development Commission of the
<br /> City of South Bend have been submitted for approval and comments
<br /> to 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 South Bend, as attached, and
<br /> WHEREAS, the requirements of the application as
<br /> described in the "Municipal Economic Development Act of 1965 , of the
<br /> State of Indiana" as amended have therefore been met to this point,
<br /> including a projection of the number of jobs created, the estimated
<br /> payroll created and the approximation of the cost of the land and
<br /> construction, and the impact on utilities and fire and police
<br /> facilities of the City of South Bend with the approvals of the
<br /> school corporation and the Area Plan Commission have jurisdiction
<br /> of the area in which the proposed facility is to be built, and
<br /> WHEREAS, Singer General Tire, Inc. seeks approximately
<br /> $200 , 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 the lease, and
<br /> WHEREAS, by virtue of the net net net lease , the Singer
<br /> General Tire, Inc. , indicates its intention to pay all expenses of
<br /> the opera-Lion, maintenance , insurance, property taxes , whatever of
<br /> the facility.
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