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<br /> RESOLUTION NO. 3 S S, '7 3
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br /> OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN
<br /> THE MATTER OF FBT BANCORP, INC. , OF SOUTH BEND,
<br /> INDIANA
<br /> WHEREAS, FBT Bancorp, Inc. , has submitted its intention
<br /> to the Economic Development Commission of South Bend to purchase real
<br /> property and construct two facilities in the Airport Industrial
<br /> 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 /> FBT Bancorp, Inc. , and
<br /> WHEREAS , FBT Bancorp, Inc. , has submitted a statement of
<br /> public service to the above Economic Development Commission of the
<br /> City of South Bend and said Commission has forwarded this statement
<br /> of public service with their approval and comments to the South
<br /> Bend School Corporation, 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 FBT- Bancorp,
<br /> Inc. , and the Economic Development Commission of the City of
<br /> South Bend have been submitted for approval and comments to the
<br /> Areal 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 the Area
<br /> Plan Commission have jurisdiction of the Area in which the proposed
<br /> facility is to be built, and
<br /> WHEREAS , FBT Bancorp, Inc. , seeks approximately $700 ,000. 00
<br /> from an issue of revenue bonds of the Economic Development Commission
<br /> of the City of South Bend to be signed by its Mayor and by its City
<br /> Clerk and further desires to enter into a lease of not to exceed 15
<br /> years duration to be known as a net net net lease sufficient to
<br /> pay the principal and interest of these bonds and obtain title at
<br /> the end of the lease, and
<br /> WHEREAS, by virtue of the net net net lease, the FBT
<br /> Bancorp, Inc. , indicates its intention to pay all expenses of
<br /> the operation, maintenance, insurance, property taxes, whatever of the
<br /> facility.
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