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ORDINANCE NO. (, Z -1 S-- 6I <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LOAN AGREEMENT, <br />INDENTURE OF TRUST, PROMISORY NOTE, MORTGAGE AND INDUSTRIAL <br />DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION <br />THEREOF, AND APPROVING RESOLUTION NO. 23 -80 OF THE SOUTH <br />BEND ECONOMIC DEVELOPMENT COMMISSION RELATING TO CLAEYS <br />REALTY, AN INDIANA PARTNERSHIP, PROJECT. <br />STATEMENT OF PURPOSE OF INTENT: <br />The Common Council of the Citv of South Bend, Indiana, <br />heretofore has created the South Bend Economic Development Com- <br />mission, hereinafter referred to as "Commission ", pursuant to <br />the provisions of the Public Law No. 182 of the Acts of the Gen- <br />eral Assembly of Indiana for 1973, as such may be amended from <br />time to time, including but not limited to IC 18- 6 -4.5 -1 through <br />IC 18- 6- 4.5 -30, hereinafter referred to as the "Act "; and <br />Claeys Realty, an Indiana partnership has filed an <br />application with the Commission to finance the acquisition of <br />and the erection of improvements of a new manufacturina building <br />addition, together with all of the equipment, machinery, tools <br />and accessories necessary thereto for the purposes of manufactur- <br />ing and the production of candy which will constitute economic <br />development facilities resulting in a substantial number of new <br />jobs as well as other benefits; and in connection therewith the <br />Commission has prepared and placed on file a report containing <br />the subject matter as specified in IC 18- 6- 4.5 -16 and has for- <br />warded copies thereof to the Chairman of the Area Plan Commission <br />of St. Joseph County, Indiana, and to the Superintendent of the <br />South Bend Community School Corporation, being the area in which <br />the proposed facilities will be located, and has timely received <br />favorable reports from each of them, and the Commission held a <br />public hearing on the proposed financing of such economic develop- <br />ment facilities in accordance with the Act, and adopted a resolu- <br />tion finding that such proposed financing complies with the <br />purposes and provisions of all applicable Indiana statutes <br />governing the issuance of Industrial Development Revenue Bonds, <br />