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Authorizing $550,000 Economic Development Revenue Bonds - Automatic Molded Plastics Inc. Project)
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Authorizing $550,000 Economic Development Revenue Bonds - Automatic Molded Plastics Inc. Project)
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5/10/2013 10:08:40 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/14/1981
Ord-Res Number
7003-81
Bill Number
93-81
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FILED IN CLERK'S OFFICE <br />OCT 2 3 1981 <br />TRANSMITTAL OF ADOPTED COMMISS d RE000MVPWON AND <br />PROPOSED ORDINANCE FOR ADOPTION BY THE SOUTH BEND <br />COMMON COUNCIL AND APPROVAL BY THE MAYOR PER- <br />TAINING TO THE FINANCING OF FACILITIES FOR <br />AUTOMATIC MOLDED PLASTICS, INC. BY THE ISSUANCE. <br />BY THE CITY. OF SOUTH BEND, INDIANA OF ITS <br />INDUSTRIAL DEVELOPMENT REVENUE BONDS <br />TO: Irene K. Gammon <br />City Clerk <br />City of South Bend <br />County -City Building <br />South Bend, Indiana 46601 <br />The South Bend Economic Development Commission (Commission) <br />hereby transmits to you in accordance with the Public Law No. 182 of <br />the Acts of the General Assembly of Indiana for 1973, as such may be <br />amended from time to time, including but not limited to IC 18- 6 -4.5 -1 <br />through IC 18- 6- 4.5 -30, hereinafter referred to as the "Act ": <br />1. A resolution adopted by the Commission on October <br />23, 1981, as called for by the Act; <br />2. Proposed ordinance for adoption by the Common Council. <br />of the City of South Bend, Indiana, as called for by the Act. <br />You will note from a perusal of the body of these documents <br />that the purpose thereof is to finance the construction of an ad- <br />dition to the existing manufacturing plant of Automatic Molded <br />Plastics, Inc., which is situated within the limits of the City of <br />South Bend, Indiana, and to acquire additional machinery and equip- <br />ment for the manufacture and processing of plastic products of said <br />plant, pursuant to the terms of a Trust Indenture, Loan Agreement, <br />and the exhibits attached thereto, and the issuance by the City of <br />South Bend, Indiana, of Industrial Development Bonds in a total <br />amount not to exceed Five Hundred Fifty Thousand Dollars <br />($550,000.00), repayable with interest to be determined when the <br />bonds are sold, but not in excess of fifteen percent (15 %), over a <br />period not to exceed eight (8) years in accordance with the terms of <br />such Trust Indenture and Loan Agreement. <br />With respect to the ordinance, you are respectfully asked <br />to publish once in a newspaper in South Bend, Indiana, a notice that <br />such proposed ordinance has been filed with you and present such <br />E, , <br />
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