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RESOLUTION NO. v'416-73 <br /> RESOLUTION AUTHORIZING THE ELECTION BY THE CITY OF <br /> SOUTH BEND, INDIANA, OF THE $5,000,000 OR LESS <br /> EXEMPTION PROVIDED IN INTERNAL REVENUE CODE SECTION <br /> 103 (c) (6) (D) WITH RESPECT TO AN ISSUE OF ECONOMIC <br /> DEVELOPMENT REVENUE BONDS RELATING TO THE PROJECT <br /> FOR FIRST BANK AND TRUST COMPANY, AS TRUSTEE FOR <br /> LAND TRUST NO. 29-5121. <br /> WHEREAS, it is beneficial and essential that the City of <br /> South Bend, Indiana, elect under Section 103 (c) (6) (D) of the Internal <br /> Revenue Code of the United States of America, as amended, and applicable <br /> regulations thereunder, to have the issue of Economic Development Revenue <br /> Bonds relating to the project for First Bank and Trust Company of South <br /> Bend as Trustee for Land Trust No. 29-5121 enjoy the exemption provided <br /> therein. <br /> NOW, THEREFORE, be it hereby resolved by the Common Council <br /> of the City of South Bend, Indiana, that the City of South Bend hereby <br /> elects pursuant to Section 103 (c) (6) (D) of the Internal Revenue Code of <br /> the United States of America, as amended, and applicable regulations <br /> issued or promulgated thereunder or in connection therewith, to have the <br /> provisions thereof as to the $5, 000,000 or less exemption apply to the <br /> issue of Economic Development Revenue Bonds relating to the project of <br /> First Bank and Trust Company as Trustee for Land Trust No. 29-5121 and <br /> authorizes the Mayor of the City of South Bend, Indiana, or in his <br /> absence the Controller of the City of South Bend, Indiana, to execute <br /> and file the statement of such election with either the District Director <br /> of Internal Revenue or the Director of the Regional Service Center of the <br /> United States of America where the principal user or users of the proceeds <br /> of such issue, or facilities, acquired, constructed, reconstructed or <br /> improved with the proceeds of such issue are required to file their <br /> income tax returns and provide a copy of such statement for attachment <br /> to the income tax return of any person or entity requesting such. <br /> /4i i <br /> M47 f the Common Council <br /> FILED IN CLERK'S OFFICE <br /> PRESENTED /- a a- '7 3 <br /> NOT APPROVED JAN 17 1973 <br /> ADOPTED --2- -7 3 Irene Gammon <br /> CITY CLERK, SOUTH RENO, IND. <br />