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RESOLUTION NO. & 6 -?:3
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
<br /> SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE
<br /> MATTER OF INTERNATIONAL BAKERS SERVICES , INC. , OF
<br /> SOUTH BEND, INDIANA
<br /> WHEREAS, International Bakers Services, Inc. , of South
<br /> Bend has submitted its intention to the Economic Development
<br /> Commission of South Bend, to purchase and remodel an existing
<br /> facility located at 1902 North Sheridan Avenue, within the
<br /> City of South Bend, 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 welfare
<br /> of the City of South Bend, Indiana, would be benefited and the
<br /> purpose of the statute would be accomplished by the acquisition
<br /> and leasing of the above described property to International Bakers
<br /> Services , Inc. , of South Bend, Indiana, and
<br /> WHEREAS, International Bakers Services , Inc. , of South
<br /> Bend, has submitted a statement of public service to the above
<br /> Economic Development Commisssion of the City of South Bend, and
<br /> said Commission has forwarded this statement of public service with
<br /> their approval and comments to the South Bend School Corporation,
<br /> a copy of 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 International
<br /> Bakers Services , Inc. , of South Bend, and the Economic Development
<br /> commission of the City of South Bend have been submitted for approval
<br /> and comments to the Area Plan Commission of St. Joseph County and
<br /> the affirmative action and comments of the Area Plan Commission
<br /> have been received by the Clerk of the City of South Bend, and attached,
<br /> and
<br /> WHEREAS, the requirements 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,
<br /> including a projection of the number of jobs created and the
<br /> estimated payroll created and the approximation of the cost of the
<br /> land and construction, and the impact on utilities and fire and
<br /> police facilities of the City of South Bend with the approvals of
<br /> the 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, now the International Bakers Services , Inc. , of
<br /> South Bend seeks approximately $250 ,000 . 00 from an issue of revenue
<br /> bonds of the Economic Development Commission of the City of South
<br /> Bend to be signed by the Mayor and by its City Clerk and further
<br /> desires to enter into a lease of not more than 20Years duration
<br /> to be known as a net net net lease sufficient to pay the principal
<br /> and interest of these bonds and obtain title at the end of the lease,
<br /> and
<br /> WHEREAS, by virtue of the net net net lease , the International
<br /> Bakers Services , Inc. , of South Bend, indicates its intention to pay
<br /> all expenses of the operation, maintenance , insurance, property
<br /> taxes , whatever of the facility.
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