Authorizing Economic Development Revenue Bonds - Universal Companies Inc Project

Home Browse Search

COMMISSION RESOLUTION NO. 28 -80 WHEREAS, the City of South Bend, Indiana still has insufficient employment opportunities and-insufficient diversi- fication of industries, which conditions are harmful to the pros- perity, economic stability and general welfare of the area and, if not remedied, will be detrimental to the development of such area and its environs; and WHEREAS, The Universal Companies, Inc., a Michigan corporation, d /b /a Universal Properties, has filed an application with the South Bend Economic Development Commission ( "Commission ") to finance the construction and equipping of a manufacturing building located on real estate in St. Joseph County, Indiana, which will constitute economic development facilities resulting in a substantial number of new jobs as well as other benefits; and WHEREAS, the Commission has considered whether the proposed facilities may have an adverse competitive effect on similar facilities already constructed and operating in the City of South Bend, St. Joseph County, Indiana; and WHEREAS, the Commission has prepared and placed on file a report as specified in IC 18- 6- 4.5 -16, and has forwarded copies thereof to the Chairman of the Area Plan Commission and to the Superintendent of the School Corporation where the facili- ties will be located, and has received favorable reports from each of them; and WHEREAS, the Commission has found on behalf of the City of South Bend, Indiana, that the proposed financing will be of benefit to the health and welfare of the City of South Bend, St. Joseph County, Indiana, and complies with the purposes and provisions of the Indiana Code of 1971, Title 18, Chapter 6, Article 4.5 as amended. NOW, THEREFORE, the South Bend Economic Development Commission at this meeting, being a public hearing on not less than five (5) days notice on such proposed financing of such Atr