The matter of First Bank and Trust Company (3)

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fj , • �-' - 'iii --- �,�'Vj�yi - - CITY OF SOUTH BEND South Bend, Indiana 46601 Jerry J. Miller Mayor May 2, 172 ECONOMIC DEVELOPMENT COMMISSION Mr. Howard Goodhew President South Bend School Board 635 South Main Street South Bend, Indiana Dear Mr. Goodhew: Our Commission has an application for the issuance of revenue bonds to enable the purchase and remodeling of 127 North Michigan Street, South Bend, Indiana. In accordance with the Economic Development Act, State of Indiana, our Commission is to forward a Statement of Public Service to the School Corporation for a jurisdiction of the area in which the proposed facility is to be built. This Statement of Public Service is attached (letter of March 23, 1972 of City Development, Inc. as amended by letter of April 28, 1972 by City Development Company) . The reason for this is to indicate the impact of employment of this facility on the school system. As stated in the attached of of Public Service by City Development Company, the employment would be from people currently living in the city, and therefore, we believe there would be no burden to the school system. In the way of additional statement to that of the City Development Company, attached we have the opinion that utilities necessary to service this facility are already available and would result in no additional cost to this city by virtue of this project. Also it is our opinion that police and fire service would not be affected. We would appreciate your affirmative reply on this application at your earliest convenience. We have been advi-sed of a commitment to purchase the total bond issue and we, as a Commission , believe this a help to maintaining the city' s tax base and property tax yield. Sincer yl' ,,.-' KARL G. KIN0, JR. President Economic Development Commission KGK:b of South Bend