Approving Industrial Revenue Bonds - Hablin Company Inc Project

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ORDINANCE NO. a Q -)9 ORDINANCE APPROVING THE FORM AND TEPMS OF A LEASE AND TRUST INDENTURE AND INDUSTRIAL REVENUE BONDS AND AUTHORIZING THE EXECUTION THEREOF, AND APPROVING RESOLUTION NO. 8 -79 OF THE SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION RELATING TO THE HABLIN COMPANY, INC. 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 182, Acts Indiana General Assembly 1973, as such may be amended from time to time, including but not limited to I.C. 18- 6 -4.5 -1 through 18- 6- 4.5 -30, hereinafter referred to as the ( "Act "); and HABLIN COMPANY, INC., an Indiana corporation, has filed an application with the Commission to finance the acquisition, improvement and remodeling of a commercial building on real estate location on the West side of Michigan Street between Jefferson Street and Wayne Street in South Bend, Indiana, (sometimes known as 225 -229 South Michigan Street, South Bend, Indiana 46601) 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 containing the subject matter as specified in I.C. 18- 6- 4.5 -16 and has forwarded the copies thereof to the Chairman of the Area Plan Commission 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