Industrial Development Revenue Bonds - Schafer Gear Works Inc Project

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TRANSMITTAL OF ADOPTED COMMISSION RESOLUTION AND PRO- POSED ORDINANCE FOR ADOPTION BY THE SOUTH BEND COMMON COUNCIL AND APPROVAL BY THE MAYOR PERTAINING TO THE FINANCING OF FACILITIES FOR SCHAFER GEAR WORKS, INC. BY THE ISSUANCE BY THE CITY OF SOUTH BEND, INDIANA OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS TO: City Clerk City of South Bend, Indiana South Bend, Indiana 46601 The South Bend Economic Development Commission, (Commis- sion) 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 ammended 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 heretofore adopted by the Commission on August cZY 1981, as called for by the Act. 2. A 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 installation and construc- tion of an approximately 10,000 sq. ft. expansion (facilities) to the main plant building of Schafer Gear Works, Inc., an Indiana corpora- tion, by the execution of an Indenture of Trust and Loan Agreement and the issuance of Industrial Development Revenue Bonds in a total amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00), repayable with interest thereon over a period of five (5) years as referred to in said Trust Indenture and User Agreement. With respect to the ordinance, you are respectfully asked to publish once in a newspaper in South Bend, Indiana, a notice that such proposed ordinance has been filed with you and present such ordinance to the Common Council of South Bend, Indiana, for passage not earlier than ten days from the date of the publication of such notice. THORNBURG. MCGILL. OEAHL HARMAN. CAREY & MURRAY