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BILL NUMBER <br />ORDINANCE NUMBER ��p33 79 <br />AN ORDINANCE AUTHORIZING THE EXECUTION OF <br />A LEASE AND TRUST INDENTURE AND BONDS, AND <br />APPROVING THE FORM AND TERMS OF THE LEASE <br />AND TRUST INDENTURE, BOND AND AUTHORIZING <br />ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS <br />AND APPROVING RESOLUTION NO. 18 -79 OF THE SOUTH <br />BEND ECONOMIC DEVELOPMENT COMMISSION RELATING <br />TO THE W & B REALTY PROJECT <br />STATEMENT OF PURPOSE OF INTENT: <br />The City of South Bend, Indiana, is a municipal corporation <br />and political subdivision of the State of Indiana and by virtue of <br />I.C. 18 -6 -4.5 as amended, is authorized and empowered to adopt this <br />Ordinance and to carry out its provisions; and <br />W & B REALTY is an Indiana Partnership duly organized and <br />existing under and by virtue of the laws of the State of Indiana and <br />duly qualified to conduct business in the State of Indiana; and <br />The Common Council of the City of South Bend, Indiana, <br />heretofore has created the South Bend Economic Development Commission <br />pursuant to the provisions of the Municipal Economic Development <br />Act of 1965, as amended, and supplemented by I.C. 18- 6 -4.5; and <br />The South Bend Economic Development Commission has found <br />by a written resolution that because of insufficient employment <br />opportunities, insufficient tax base and insufficient diversification <br />of economic development facilities in the City of South Bend, the <br />economic welfare of the City of South Bend, Indiana, would be benefited <br />by the construction and leasing of certain economic development <br />facilities pursuant to a request made on April 30, 1979, by W & B <br />REALTY, an Indiana Partnership, and has further found by Resolution <br />that the proposed financing complies with the purposes and provisions <br />of I.C. 18- 6 -4.5, as amended; and <br />The South Bend Economic Development Commission has prepared <br />a report estimating the public services which would be made necessary <br />or desirable by the proposed project, the expenses thereof, and the <br />total project costs of the proposed project and the number of jobs <br />and the number of jobs and estimated payroll on account of the <br />construction and leasing of the proposed facilities relating to the <br />proposed project, and such report having been submitted to the Director <br />