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BILL NO. <br />ORDINANCE NO <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LOAN AGREEMENT, <br />INDENTURE OF TRUST, SECURITY AGREEMENT AND INDUSTRIAL DEVEL- <br />OPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF, <br />AND APPROVING RESOLUTION NO. 20 -80 OF THE SOUTH BEND ECONOMIC <br />DEVELOPMENT COMMISSION RELATING TO THE SCHILLING'S SALES CO., <br />INC., AN INDIANA CORPORATION, PROJECT <br />STATEMENT OF PURPOSE OF INTENT: <br />The Common Council of the City 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 />Schilling's Sales Co., Inc., an Indiana corporation, <br />has filed an application with the Commission to finance the ex- <br />pansion and remodeling of the company's business facility located <br />at 329 South Lafayette Blvd., South Bend, Indiana, which will <br />constitute economic development facilities (facilities) resulting <br />in a number of new jobs as well as other benefits; and in connec- <br />tion therewith the Commission has prepared and placed on file a <br />report containing the subject matter as specified in IC 18- 6 -4.5- <br />16 and has forwarded copies thereof to the Chairman of the Area <br />Plan Commission of St. Joseph County, Indiana, and to the Super- <br />intendent of the South Bend Community School Corporation, being <br />the area in which the proposed facilities will be located, and <br />has timely received favorable reports from each of them, and the <br />Commission held a public hearing on the proposed financing of <br />such economic development facilities in accordance with the Act, <br />and adopted a resolution finding that such proposed financing <br />complies with the purposes and provisions of all applicable <br />Indiana statutes governing the issuance of Industrial Development <br />