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Economic Development Commission
<br />Jerry Hammes, President
<br />Walter Szymkowiak, Vice President
<br />Walter A. Mucha, Secretary
<br />Kenneth P. Fedder, Counsel
<br />Alice Neddo, Asst. Sec.
<br />CITY of SOUTH BEND
<br />ROGER O. PARENT, Mayor
<br />September 21, 1983
<br />Members of the Common Council
<br />of the City of South Bend
<br />County -City Building
<br />South Bend, Indiana 46601
<br />FILED 19 CLE .11 OFFICE
<br />Irene Gammon
<br />CITY CLERK, SOUTH BEND, IND.
<br />Alice Neddo
<br />Staff Administrator
<br />230 W. Jefferson Boulevard
<br />P.O. Box 1677
<br />South Bend, Indiana
<br />46634.1677
<br />(219) 234 -0051
<br />Re: AN ORDINANCE AMENDING GENERAL ORDINANCE NO, 6622 -79, PASSED
<br />AUGUST 13, 1979, AUTHORIZING THE ISSUANCE OF $6,000,000 CITY
<br />OF SOUTH BEND, INDIANA, ECONOMIC DEVELOPMENT FIRST MORTGAGE
<br />REVENUE BONDS (SOUTH BEND FORGE, INC. PROJECT) (ABS INDUSTRIES,
<br />INC. GUARANTOR) AND GENERAL ORDINANCE NO. 6781 -80, PASSED
<br />MAY 27, 1980, AUTHORIZING THE ISSUANCE OF $3,000,000 OF SOUTH
<br />BEND, INDIANA, ECONOMIC DEVELOPMENT FIRST MORTGAGE REVENUE BONDS,
<br />SERIES 1980 (SOUTH BEND FORGE, INC. PROJECT) (ABS INDUSTRIES,
<br />INC, GUARANTOR); AND AUTHORIZING THE EXECUTION AND DELIVERY OF
<br />AMENDED BONDS AND OF A SECOND SUPPLEMENTAL TRUST INDENTURE AND
<br />SECOND SUPPLEMENTAL LOAN AGREEMENT,
<br />Dear Councilmen:
<br />The South Bend Economic Development Commission has received an
<br />application from South Bend Forge, Inc., to permit a sale of the
<br />economic development facilities owned and operated by South Bend
<br />Forge, Inc., which is a subsidiary to ABS Industries, Inc., to
<br />Steven J, Bandawat, The Commission has been advised that, because
<br />of difficult times, the parent company, ABS Industries, Inc., desires
<br />to sell the facilities owned and operated by South Bend Forge, Inc.,
<br />and Mr. Bandawat is willing to assume the obligation and continue the
<br />operation of the plant facility in South Bend, Indiana, as well as
<br />maintain the employees working presently at the plant,
<br />I am enclosing a copy of a letter dated September 20, 1983, from the
<br />Law Firm of Squire, Sanders & Dempsey as further explanation to
<br />assist you in acting on this Ordinance.
<br />By.successfully concluding
<br />Ordi nce, we will continue
<br />in e South Bend area and
<br />t ewith,
<br />ec
<br />P, FEDDER
<br />:ram
<br />this matter with the passage of the
<br />to assure the operation of this facility
<br />the maintenance of the jobs attended
<br />
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