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RESOLUTION NO. 325-72 <br /> RESOLUTION AUTHORIZING THE ELECTION BY THE <br /> CITY OF SOUTH BEND, INDIANA, OF THE $5 ,000 ,000 <br /> OR LESS EXEMPTION PROVIDED IN SECTION 103 (c) <br /> (6) (D) WITH RESPECT TO AN ISSUE OF ECONOMIC <br /> DEVELOPMENT REVENUE BONDS RELATING TO ROYAL INN <br /> OF SOUTH BEND, A LIMITED PARTNERSHIP PROJECT <br /> WHEREAS it is beneficial and essential that the City of <br /> South Bend, Indiana, elect under Section 103 (c) (6) (D) and Internal <br /> Revenue Regulation Section 1.103-10 to have the issue of Economic <br /> Development Revenue Bonds relating to the Royal Inn of <br /> South Bend, a Limited Partnership, project enjoy the exemption <br /> provided therein. <br /> NOW, THEREFORE, be it hereby resolved by the Common Council <br /> of the City of South Bend, Indiana, that the City hereby elects <br /> pursuant to Section 103 (c) (6) (D) of the Internal Revenue Code, as <br /> amended, and Internal Revenue Service Regulation Section 1.103-10 <br /> to have the provisions thereof as to the $5 ,000 ,000 or less exemption <br /> apply to the issue of Economic Development Revenue Bonds relating to <br /> Royal Inn of South Bend, a Limited Partnership, project and authorizes <br /> the Mayor of such City, or in his absence the Controller, to execute <br /> and file the statement of such election with the District Director <br /> or Director of the Internal Revenue Service Center where Royal Inn <br /> of South Bend, a Limited Partnership, is required to file its income <br /> tax returns prior to the issuance of such Economic Development <br /> Revenue Bonds and provide a copy of such statement for attachment <br /> to the income tax return of Royal Inn o South Bend, a Limited <br /> Partnership. <br /> Passed and adopted by the Common Cou cp of the City of <br /> South Bend, Indiana, on this 28 day of August , 1972. <br /> President of Common Council <br /> ATTEST: 'FILED IN CLr°K'S OFFICE <br /> Irene Gammon <br /> CITY CLERK, SOUTH BEND, IND., <br /> City Clerk <br /> 1st 1 2nd READIRQ <br /> COMMITTEE Af Eg WHOLE <br /> >PUBUQ,�)>t�_ Vir 2 8 'IN?- <br /> 3 g REII A& <br /> NOT'APPRO.M <br /> REFERRED, <br /> PASSED $'� oZ 8--7 �- <br />