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COMITTEE REPORT <br /> TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: <br /> Your Committee <br /> to whom was referred <br /> BILL NO. <br /> 63-96 A BILL AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $790,000 <br /> AGGREGATE PRINCIPAL AMOUNT OF ECONOMIC DEVELOPMENT REVENUE <br /> BONDS, SERIES 1996 (CRYSTAL MOUNTAIN, INC PROJECT) OF THE <br /> CITY OF SOUTH BEND, INDIANA, THE PROCEEDS OF WHICH SHALL <br /> BE LOANED TO RICK E. NEWMAN TO FINANCE THE ACQUISITION, <br /> CONSTRUCTION, INSTALLATION AND EQUIPPING OF AN ECONOMIC <br /> DEVELOPMENT FACILITY LOCATED AT 4044 WILLIAM RICHARDSON <br /> COURT WITHIN THE CITY OF SOUTH BEND, INDIANA, FOR LEASE TO <br /> CRYSTAL MOUNTAIN, INC. ; PROVIDING FOR THE PLEDGE AND <br /> ASSIGNMENT OF REVENUES FOR THE PAYMENT OF SAID BONDS; <br /> AUTHORIZING A BOND PURCHASE AND LOAN AGREEMENT WITH <br /> RESPECT TO THE BONDS AND LEASE AGREEMENT WITH RESPECT TO <br /> THE PROJECT; AUTHORIZING AGREEMENTS TO SECURE FURTHER THE <br /> PAYMENT OF SAID BONDS; AND AUTHORIZING OTHER ACTIONS IN <br /> CONNECTION WITH THE ISSUANCE OF SUCH BONDS <br /> Respectfully report that they have examined the matter and that in their opinion, this bill <br /> has been recommended to the Council favorably. <br /> Cleo Washington <br /> Chairman <br />