Approving Industrial Development Revenue Bonds Misch Manufacturing Co A Partnership Project

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ORDINANCE NO..-(, 10 R- 79 AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF, AND APPROVING RESOLUTION NO. 38 -79 OF THE SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION RELATING TO THE MISCH MANUFACTURING CO., A PARTNERSHIP, 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 197.3, as such may be amended 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 "; and MISCH MANUFACTURING CO., a Partnership, comprised of Walter H. Misch, Jr., Donald G. Misch and William King, has filed an application with the Commission to finance the acquisition and improvement to facilities located at 14111 Ester Road, Penn Township, St. Joseph County, Indiana (facilities) which will constitute economic development facilities resulting in the addition of seven to ten jobs being added to the payroll, as well as other benefits, and in connectin therewith the Commission has prepared and placed on file a report containing the subject matter as specified in IC 18- 6- 4.5 -16 and has forwarded 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 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 resolution 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 Lease and Trust Indenture and Industrial Development Revenue Bonds