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Authorizing the Issuance and Sale not Exceeding $4,000,000.00 Revenue Bonds - Health Quest Realty V
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Authorizing the Issuance and Sale not Exceeding $4,000,000.00 Revenue Bonds - Health Quest Realty V
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5/13/2013 11:02:03 AM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/24/1981
Ord-Res Number
6954-81
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SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION <br />RESOLUTION NO. / 'p <br />WHEREAS, the South Bend Economic Development Commission (the <br />"Commission ") was created to investigate, study and survey the need for and <br />to recommend action to improve or promote job opportunities, industrial <br />diversification and pollution control facilities in South Bend, Indiana, <br />and in certain other geographic areas within the State of Indiana; and <br />WHEREAS, HEALTH QUEST REALTY V, an Indiana general partnership, <br />as Developer (the "Developer "), has advised the Commission that it has under <br />consideration a program for the acquisition of approximately 12.17 acres of <br />land located on the east side of Ironwood, approximately one thousand five <br />hundred (1,500) feet North of the intersection of Ironwood and Cleveland, <br />St. Joseph County, Indiana, and the construction thereon and equipment of <br />a building for use as a nursing home, containing 144 skilled nursing and <br />intermediate care beds (the "Project "), and <br />WHEREAS, the Developer intends to lease the Project to Fountainview <br />Place Corporation of South Bend, an Indiana corporation (the "User ") pursuant <br />to a Lease Agreement between the Developer and the User (the "Lease "); and <br />certain management services for the Project will be provided by Health Quest <br />Corporation, an Indiana corporation ( "Health Quest "). pursuant to a Management <br />Agreement between the User and Health Quest (the "Management Agreement "); and <br />WHEREAS, the Developer has submitted a letter of application <br />dated July 15, 1981, for the financing of the Project under Indiana Code <br />18- 6- 4.5 -1, et seq. which was duly considered by the Commission on July 31, <br />1981, and set for public hearing on August 14, 1981; and <br />WHEREAS, the Commission issued its Report and forwarded the same <br />to the South Bend Community School Corporation and the Area Plan Commission <br />pursuant to I.0 18- 6- 4.5 -16 for comment; and <br />WHEREAS, notice has been given to the public for a hearing on the <br />proposed financing of the Project by the publication of a notice thereof in <br />the South Bend Tribune on Au4 N7, � �/ 1981, and <br />by the posting of appropriate notice thereof at public places; and <br />
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