Laserfiche WebLink
ORDINANCE NO. (, 7ZV - &t) <br />AN ORDINANCE APPROVING THE FORM <br />MORTGAGE AND INDENTURE OF TRUST <br />INDUSTRIAL DEVELOPMENT REVENUE <br />EXECUTION THEREOF AND APPROVING <br />SOUTH BEND ECONOMIC DEVELOPMENT <br />TIMBERLINE TRACE <br />AND TERMS OF LOAN AGREEMENT, <br />AND GUARANTY AGREEMENT AND <br />3ONDS, AND AUTHORIZING THE <br />RESOLUTION NO. 7 -80 OF THE <br />COMMISSION RELATING TO THE <br />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 Development Commission herein- <br />after referred to as "Commission ", pursuant to the provisions of the <br />Public Law No. 182 of the Acts of the General Assembly of Indiana <br />for 1973, as such may be amended from time to time, including but <br />not limited to IC 18- 6- 4.5 -2, through IC 18- 6- 4.5 -30, hereinafter <br />referred to as the "Act "; and <br />Timberline Trace, an Indiana partnership, has filed an <br />application with the Commission to finance the construction of a <br />commercial building located on real estate in St. Joseph County, <br />Indiana, (facilities) which will constitute economic development <br />facilities resulting in a substantial number of new jobs as well <br />as other benefits; and <br />in connection therewith the Commission has prepared and <br />placed on file a report containing the subject matter as specified <br />in Section 16 of IC 18 -6 -4.5 and has forwarded copies thereof to <br />the Chairman of the Area Plan Commission and to the Superintendent <br />of the School Corporation in the area of which the facilities will <br />be located, and has timely received favorable reports from each of <br />them; and <br />the Commission held a public hearing on the proposed <br />financing of such facilities on April 8, 1980, after giving the <br />required notice as provided for in Section 17 of IC 18 -6 -4.5 and <br />did find that the proposed financing complies with the purposes <br />and provisions of the applicable Indiana statutes governing the <br />issuance of Industrial Development Revenue Bonds by the Commis- <br />sion and the Commission finds that the proposed facility will not <br />