Authorizing $350,000 Economic Development Revenue Bonds Medical Arts Corp

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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 MEDICAL ARTS CORPORATION OF SOUTH BEND, AN INDIANA CORPORATION, BY THE ISSUANCE BY THE CITY OF SOUTH BEND, INDIANA, OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS TO: Irene K. Gammon City Clerk City of South Bend County -City Building 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 I.C. 18- 6 -4.5 -1 through I.C. 18- 6- 4.5 -30, hereinafter referred to as the "Act ": 1. A resolution adopted by the Commission on April 2, 1982, as called for by the Act; 2. 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 expansion of existing space and to construct an addition thereto at the present facility, the South Bend Clinic, 211 North Eddy Street, South Bend, Indiana, pursuant to the terms of a Loan Agreement, Indenture of Trust, Security Agreement, Note, Mortgage, and the issuance by the City of South Bend, Indiana, of Industrial Development Bonds in a total amount of Three Hundred and Fifty Thousand ($350,000.00) Dollars, repayable with interest in accordance with the terms of the documents. Submitted this 21st day of April, 1982. WALTER A. MUCHA, Secretary SOUTH BEND ECONOMIC DEVELOPMENT COlM4ISSION FILED IN MOPS PS OFFNCE APR 2 11982 Irene Gammon CRY CLERK, SOU1N BEND, IND.