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Authorizing the City to Issue its Economic Development Revenue Bonds (Whiteford Nationallease Inc Project) $943,650.00
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Authorizing the City to Issue its Economic Development Revenue Bonds (Whiteford Nationallease Inc Project) $943,650.00
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3/27/2013 11:27:46 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/1984
Ord-Res Number
7391-84
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ORDINANCE NO. <br />AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND, <br />INDIANA (THE "CITY "), TO ISSUE ITS "ECONOMIC <br />DEVELOPMENT REVENUE BONDS, SERIES 1984 <br />(WHITEFORD NATIONALEASE, INC. PROJECT), <br />IN THE AGGREGATE PRINCIPAL AMOUNT OF <br />NINE HUNDRED FORTY -THREE THOUSAND SIX HUNDRED FIFTY <br />DOLLARS ($943,650.00) AND APPROVING <br />AND AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO. <br />WHEREAS, the City is a municipal corporation and po- <br />litical subdivision of the State of Indiana, and by virtue of <br />Title 35, Article 7, Chapter 12, of the Indiana Code, as <br />amended (the "Act "), is authorized and empowerd to adopt this <br />Ordinance and to carry out its provisions; and <br />WHEREAS, the South Bend Economic Development Commis- <br />sion (the "Commission ") has rendered its report concerning the <br />proposed financing of economic development facilities for <br />Whiteford NationaLease, Inc., an Indiana corporation, and the <br />Area Plan Commission has commented favorably thereon; and <br />WHEREAS, the Commission, after a public hearing held <br />on October 5, 1984, has adopted a Resolution, which has been <br />transmitted to this Council, (i) finding that the acquisition <br />by Whiteford NationaLease, Inc. (the "Company ") of the proposed <br />economic development facilities described in said Report will <br />not have an adverse competitive effect on any similar facili- <br />ties already constructed or operating in or about the City, <br />(ii) further finding that the proposed economic development <br />revenue bond financing of such facilities will be of benefit to <br />the health and welfare of the City and its citizens, (iii) <br />further finding that the proposed economic development revenue <br />bond financing of such facilities complies with the purposes <br />and provisions of the Act, (iv) approving the economic devel- <br />opment revenue bond financing of such facilities, including the <br />
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