Issue its Economic Development Revenue Bonds (Stanz Realty Co) $1,500,000.00

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BARNES a THORNBURG 1313 MERCHANTS BANK BUILDING 600 1ST SOURCE BANK CENTER FEDERAL BAR BUILDING II SOUTH MERIDIAN STREET 100 NORTH MICHIGAN 1815 H STREET, N.W. INDIANAPOLIS, INDIANA 46204 WASHINGTON,D.C.20006 13171638-1313 SOUTH BEND, INDIANA 46601 12021955-4500 (219) 233-1171 305 FIRST NATIONAL BANK BUILDING 301 SOUTH MAIN STREET ELKHART,INDIANA 46516 TWX 810-341-3427 B&T LAW IND 12191 293-0681 TELECOPIER (219) 237-1125 ERNEST J. SZARWARK 12191 237-1193 November 12, 1985 Ms . Irene Gammon City Clerk 4th Floor County-City Building South Bend, Indiana 46601 Dear Ms. Gammon: Please find enclosed herein: 1. An Ordinance for adoption by the South Bend City Council approving the issuance of City of South Bend, Indiana, Economic Development Revenue Bonds (Stanz Realty Company, an Indiana partnership Project) ; in the original principal amount of $1,500,000. 00; 2. An Indenture of Trust; and 3. A Loan Agreement, Mortgage and Security Agreement. We request that you put this on the agenda for a first reading on November 18, 1985, and a second reading during the first meeting in December of 1985: Stanz Realty Company, an Indiana partnership, respectfully requests the issuance of a $1,500,000. 00 economic development revenue bond by the City of South Bend, Indiana, to finance the expansion of its current facility at 1840 North Commerce Drive, South Bend, Indiana. These funds would be used to purchase refrigeration units, lift trucks, and equipment in connection with a 20,000 square feet expansion of its existing facility. It is anticipated that this project will create 10 new jobs with an annual payroll increase of $250;000 per year, and will save 12 _to 15 existing jobs with an annual payroll of approximately $300,000 per year. The bonds will be issued for a period of 15 years, with a 10 year call provision. The bonds will bear interest at 75 percent of the National Prime Rate, adjusted monthly, with a