Authorizing Economic Development Revenue Bonds - Michiana Telecasting Corp 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 MICHIANA TELECASTING CORP., 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 IC 18- 6 -4.5 -1 through IC 18- 6- 4.5 -30, hereinafter referred to as the "Act ": 1. A resolution adopted by the Commission on March 20,1981, 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 construction and equipping of a building to operate a radio and telecasting station at the northeast corner of Dorr Road and U.S. 31, St. Joseph County, Indiana, pursuant to the terms of a Trust Indenture and Loan Agreement and other related documents, and the issuance by the City of South Bend, Indiana of Industrial Development Bonds in a total amount of Three Million ($3,000,000.00) Dollars repayable with interest in accordance with the terms of the docu- ments. You are requested to place on the agenda of the South Bend Common Council the proposed form of Ordinance for the meeting to be held on March 23, 1981 and to present such proposed Ordinance and other documents to the Common Council of the City of South Bend, Indiana. p/ Dated this fp day of March, 1981. SOUTH BEND ECONOMII�iC EVELO/ P.�C NT COMMIS Ii