Authorizing Issurane of Economic Development Revenue Bonds Robert H Freshley Project

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TRANSMITTAL OF ADOPTED COMMISSION RESOLUTION AND PROPOSED ORDINANCE FOR ADOPTION BY THE SOUTH BEND COMMON COUNCIL AND APPROVAL BY THE MAYOR PERTAINING TO THE FINANCING OF FACILITIES FOR ROBERT H. FRESHLEY BY THE ISSUANCE BY THE CITY OF SOUTH BEND, INDIANA OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS TO: CITY CLERK CITY OF SOUTH BEND, INDIANA SOUTH BEND, INDIANA 46601 The South Bend Economic Development Commission ( "Commission ") hereby transmits to you in accordance with the Public Law No. 182 of the Acts of the General Assembly of Indiana for 1973, as such may be amended from time to time including but not limited to IC 18- 6 -4.5 -1 through IC 18- 6- 4.5 -30, hereinarter referred to as the "Act "; 1. A resolution heretofore adopted by the Commission on November 20, 1981, as called for by the Act. 2. A proposed ordinance for adoption by the Common Council of the City of South Bend, Indiana, as called for by the Act. You will note from a perusal of the body of these documents that the purpose thereof is to finance the relocation, expansion and remodeling of an existing building located at 416 West LaSalle Street, South Bend, Indiana, which building will be leased to BASIC MACHINE PRODUCTS COMPANY, INC., an Indiana Corporation, by the execution of an Indenture of Trust and Loan Agreement and the issuance of Industrial Development Revenue Bonds in a total amount not to exceed Two Hundred and Twenty -Five Thousand ($225,000.00) Dollars, repayable with interest at the rate of ten (10 %) percent per annum, as referred to in said Trust Indenture and Loan Agreement. Submitted this 20th day of November, 1981. SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION Iim s - Walter M. Sz/ymkowiak - Vice President By: Lktp1 Walter A. Mucha - Secretary