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RESOLUTION NO. 3 S-
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br /> OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN
<br /> THE MATTER OF MICHIANA BEVERAGES, INC. , OF
<br /> SOUTH BEND, INDIANA
<br /> WHEREAS, Michiana Beverages , Inc. , of South Bend, has
<br /> submitted its intention to the Economic Development Commission of
<br /> South Bend, to purchase real property, renovate and equip the
<br /> existing facility and construct additional facilities located at
<br /> 142 South Olive Street, within the 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 Michiana Beverages ,
<br /> Inc. , of South Bend, Indiana, and
<br /> WHEREAS, Michiana Beverages , Inc. , of South Bend, has
<br /> submitted a statement of public service to the above Economic
<br /> Development Commission of the City of South Bend and said Commission
<br /> has forwarded this statement of public service with their approval
<br /> and comments to the South Bend School Corporation, a copy of which
<br /> 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 Michiana
<br /> Beverages, 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 the
<br /> affirmative action and comments of the Area Plan Commission have
<br /> been received by the Clerk of the City of South Bend, as attached, 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 Michiana Beverages , Inc. , of South Bend,
<br /> seeks approximately $300, 000. 00 from an issue of revenue bonds of
<br /> the Economic Development Commission of the City of South Bend to
<br /> be signed by the Mayor and by its City Clerk and further desires to
<br /> enter into a lease of not more than 20 years duration to be known
<br /> as a net net net lease sufficient to pay the principal and interest
<br /> of these bonds and obtain title at the end of the lease, and
<br /> WHEREAS, by virtue of the net net net lease , the Michiana
<br /> Beverages, 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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