Industrial Development Revenue Bonds Authorizing - South Bend Tool and Die Co Inc

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ORDINANCE NO. k %Y2- fe AN ORDINANCE AMENDING AND SUPPLEMENTING ORDINANCE NO. 6680 -79 APPROVING THE FORM AND TERMS OF LOAN AGREEMENT, TRUST INDENTURE, REAL ESTATE MORTGAGE, SECURITY AGREEMENT AND INDUSTRIAL DEVELOP- MENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF, AND APPROVING RESOLUTION NO. 2 -80 OF THE SOUTH BEND ECONOMIC DEVELOP- MENT COMMISSION RELATING TO THE SOUTH BEND TOOL AND DIE CO., INC. AN INDIANA CORPORATION PROJECT STATEMENT OF PURPOSE OF INTENT: The Common Council of the City of South Bend, Indiana heretofore has created the South Bend Economic Development Commission, hereinafter referred to as "Commission ", pursuant to the provisions of the Public Law No. 182 of the Acts of the General Assembly of Indiana for 1973, as such may be amended from time to time, including but not limtied to IC 18- 6 -4.5 -1 through IC 18- 6- 4.5 -303, hereinafter referred to as the "Act "; and South Bend Tool and Die Co., Inc., an Indiana corpora- tion, has filed an application with the Commission to finance the acquisition of real estate and the construction of a manufacturing building located thereon (facilities) which will constitute economic development facilities resulting in a substantial number of new jobs as well as other benefits, and in connection therewith the Commission has prepared and placed on file a report contain- ing the subject matter as specified in IC 18- 6- 4.5 -16 and has forwarded copies thereof to the Chairman of the Area Plan Commis- sion of St. Joseph County, Indiana, and to the Superintendent of the South Bend Community School Corporation, being the area in which the proposed facilities will be located, and has timely received favorable reports from each of them, and the Commission held a public hearing on the proposed financing of such economic development facilities in accordance with the Act after giving the required notice as provided in the Act, and adopted a resolu- tion finding that such proposed financing complies with the purposes and provisions of all applicable Indiana statutes governing the issuance of Industrial Development Revenue Bonds, including but not limited to the Act and approved the form and terms of the Loan Agreement, Trust Indenture, Real Estate Mortgage, Security Agree- ment and Industrial Development Revenue Bonds, and further approved