$200,000.00 City Economic Development Revenue Bond (Dixie Development Partnership Project)

Home Browse Search

WILLIAM E. VOOR LLOYD M. ALLEN KENNETH P. FEDDER GEORGE E.HERENDEEN ANTHONY D. KOWALS LARRY L.AMBLER FRED R, RAINS DAVID M. MCTIGUE VOOR, ALLEN, FEDDER, HERENDEEN 8 KOWALS ATTORNEYS 8 COUNSELORS AT LAW 300 FIRST BANK BUILDING SOUTH BEND, INDIANA 46601 Ms. Irene Gammon City Clerk County -City Building South Bend, IN 46601 Re: Granny Franny's, Inc Dear Ms. Gammon: March 22, 1983 AREA CODE 219 234 -6061 OF COUNSEL: WILLIAM O. JACKSON GUY H. McMICHAEL - Proposed Common Council Ordinance I am enclosing herewith the original of a proposed Ordinance requesting that you file for first reading and subsequent public hearing before the South Bend Common Council. The purpose of this Ordinance is to allow the transfer of the rights, duties, liabilities, title, interest and responsibilities of Dixie Development Corporation, under an Economic Development Revenue Bond issued by the City of South Bend, Indiana, to Granny Franny's, Inc., an Indiana Partnership. The bond in question was issued on October 1, 1977. Dixie Development Partnership leased this facility to Gropp's Fish of Stroh, which was a restaurant facility which went out of business. Dixie Development Partnership is no longer able to fulfill its duties under the terms and conditions of the bond documents. Granny Franny's, Inc., an Indiana Corporation, has offered to acquire the right, title, interest, duties, liabilities and responsibilities of Dixie Development Partnership under the terms and conditions of the bond and the documents signed in connection therewith. The Trustee of the bonds and the bondholders, as well as the South Bend Economic Development Commission, have approved the assignment in question, and we respectfully request the consent of the City of South Bend, Indiana, to this action. Reqo(ectfully, H P. FEDDER KPF:ram enc.