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Approving Industrial Development Revenue Bonds - Adams Engineering Inc Project
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Approving Industrial Development Revenue Bonds - Adams Engineering Inc Project
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6/4/2013 2:41:00 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/14/1979
Ord-Res Number
6585-79
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ORDINANCE NO. 6 eS 2Y <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF A <br />LEASE AND TRUST INDENTURE AND INDUSTRIAL <br />DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE <br />EXECUTION THEREOF PERTAINING TO ADAMS ENGINEER- <br />ING, INC. PROJECT <br />STATEMENT OF PURPOSE OF INTENT: <br />The Common Council of the City of South Bend, Indiana, <br />he etofore has created the South Bend Economic Development <br />Commission, hereinafter referred to as "Commission" pursuant to <br />the provisions of the Public Law No. 182 of the Acts of the General <br />Assembly of Indiana for 1973, as such may be amended from time to <br />time, including but not limited to IC 18- 6 -4.5 -1 through IC 18 -6- <br />4.5-30, hereinafter referred to as the "Act "; and <br />ADAMS ENGINEERING, INC. has filed an application with the <br />Commission to finance the acquisition of machinery to be located at <br />1722 W. Washington Avenue, South Bend, Indiana, which will constitute <br />economic development facilities resulting in a substantial number <br />of new jobs as well 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 IC 18- 6- 4.5 -16 and has forwarded copies thereof to the Chairman <br />of the Area Plan Commission of St. Joseph County, Indiana, and to <br />the Superintendent of the South Bend Community School Corporation, <br />being the area in which the proposed facilities will be located, <br />and has timely received favorable reports from each of them; and <br />the Commission held a public hearing on the proposed <br />financing of such economic development facilities on May 4, 1979, <br />after giving the required notice as provided in the Act, and <br />adopted a resolution finding that the proposed financing complies <br />with the purposes and provisions of all applicable Indiana statutes <br />covering the issuance of Industrial Development Revenue Bonds, <br />including but not limited to, the Act, and that such economic <br />development facilities will not have an adverse competitive effect on <br />similar facilities already constructed and operating in the City of <br />South Bend, Indiana. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the <br />
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