Authorizing $175,000 Development revenue Bond (W & B Realty)

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Members of the South Bend Common Council County -City Building South Bend, IN 46601 AREA CODE 219 234 -6061 OF COUNSEL: WILLIAM O. JACKSON GUY H. McMICHAEL Re: Proposed Ordinance authorizing the assignment of the interest of W &B Realty, an Indiana Partnership Dear Councilmen: The South Bend Economic Development Commission issued Industrial Revenue Bonds to W &B Realty Partnership and executed documents entitled Lease and Trust Indenture on December 18, 197. The amount of the Bond issued was for $175,000.00, which Bond is in a current status with an unpaid balance of $161,104.5?. It is the intent of this Ordinance to assume the right, title, interest, duties and liabilities of W &B Partnership of the Lease and Trust Indenture to Janice Faye Corson. The Assignors will remain liable on this obligation if the assignment is approved. The Assignee, who was not a party to the original 1979 Bond transaction_, will continue to operate the Koszegi Leather and _n the facility which was constructed iment Revenue Bond. KPF:ram FILED 13 CL�o �'S GTRIK 1a�3 rne Gammo oIe m . VOOR, ALLEN, FEDDER, HERENDEEN 8 KOWALS ATTORNEYS 8 COUNSELORS AT LAW WILLIAM E. VOOR 300 FIRST BANK BUILDING LLOYD M. ALLEN KENNETH P. FEDDER SOUTH BEND, INDIANA 46601 GEORGE E.HERENDEEN ANTHONY D. KOWALS LARRY L.AMBLER FRED R.HAINS DAVID M. MCTIGUE September 7, 1983 Members of the South Bend Common Council County -City Building South Bend, IN 46601 AREA CODE 219 234 -6061 OF COUNSEL: WILLIAM O. JACKSON GUY H. McMICHAEL Re: Proposed Ordinance authorizing the assignment of the interest of W &B Realty, an Indiana Partnership Dear Councilmen: The South Bend Economic Development Commission issued Industrial Revenue Bonds to W &B Realty Partnership and executed documents entitled Lease and Trust Indenture on December 18, 197. The amount of the Bond issued was for $175,000.00, which Bond is in a current status with an unpaid balance of $161,104.5?. It is the intent of this Ordinance to assume the right, title, interest, duties and liabilities of W &B Partnership of the Lease and Trust Indenture to Janice Faye Corson. The Assignors will remain liable on this obligation if the assignment is approved. The Assignee, who was not a party to the original 1979 Bond transaction_, will continue to operate the Koszegi Leather and _n the facility which was constructed iment Revenue Bond. KPF:ram FILED 13 CL�o �'S GTRIK 1a�3 rne Gammo oIe m .