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REGULAR MEETING SEPTEMBER 10, 1984
<br />WHEREAS, Whiteford NationaLease, Inc., which is an Indiana corporation, proposes
<br />to acquire and construct economic development facilities in South Bend, Indiana as
<br />defined in the Act if the City will finance costs of such economic development facilities
<br />pursuant to the Act; and
<br />WHEREAS, the South Bend Economic Development Commission has received an application
<br />by Whiteford NationaLease, Inc., for the issuance of City of South Bend Industrial
<br />Development Revenue Bonds in the approximate principal amount of Nine Hundred Ninety -
<br />nine Thousand and no /100 Dollars ($999,000), to be repaid with approximately 9.25%
<br />interest over approximately four years and nine months, with the proceeds of the
<br />bonds being used to acquire economic development facilities to be based and located
<br />in South Bend, Indiana, which will result in the creation of new jobs in and near
<br />South Bend, Indiana.
<br />NOW, THEREFORE, the Common Council of the City of South Bend, Indiana resolves
<br />as follows:
<br />1. The project constitutes economic development facilities which shall be financed
<br />by the City through the issuance of revenue bonds pursuant to the Act and the City is
<br />willing, upon compliance with all provisions of Indiana law, to authorize approximately
<br />Nine Hundred Ninety Thousand and no /100 Dollars ($990,000.00) of its revenue bonds,
<br />which bonds will not be general obligations of the City but will be payable solely
<br />from the limited sources authorized and permitted by the Act.
<br />2. The proposed financing will be of benefit to the economic welfare of the
<br />City and will comply with the purposes and provisions of the Act.
<br />3. Whiteford NationaLease, Inc. may proceed with acquisition and construction
<br />of the economic development facilities in reliance upon this resolution.
<br />4. That the liability and obligation of the South Bend Economic Development
<br />Commission, the South Bend Common Council and the City of South Bend, Indiana, shall
<br />be limited solely to the good faith efforts to consummate such proceedings and issue
<br />such Bonds, and the South Bend Economic Development Commission and the City of South
<br />Bend, Indiana, their officers and agents, shall not incur any liability if for any
<br />reason theproposed issuance of such Bonds is not consummated.
<br />This Inducement Resolution shall be in full force and effect from and after its
<br />adoption by the Common Council and approval by the Mayor.
<br />/s/ Beverlie J. Beck
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Ernest Szarwark, attorney,
<br />indicated this resolution should be amended by accepting a substitute resolution on
<br />file with the City Clerk. Council Member Taylor made a motion to accept the substitute,
<br />seconded by Council Member Zakrzewski. The motion carried. Mr. Szarwark indicated
<br />that Whiteford planned to acquire 16 to 17 tractors to be based and located within
<br />the City of South Bend. He indicated that 20 new jobs will be created. Council
<br />Member Taylor made a motion to adopt this resolution, as amended, seconded by Council
<br />Member Puzzello. The resolution was adopted by a roll call vote of nine ayes.
<br />RESOLUTION NO. 1201 -84 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND
<br />TO HOLD PUBLIC HEARING ON THE LEASE PURCHASE OF CLAY UTILITIES
<br />WATER WORKS FACILITIES AND SEWAGE DISPOSAL FACILITIES.
<br />WHEREAS, negotiations have been conducted over an extended period of time between
<br />the Mayor and other members and employees of the Executive Department of the City of
<br />South Bend and Clay Utilities, Inc., culminating in a form of Lease for sewage disposal
<br />facilities from CLAY UTILITIES, INC., to the City of South Bend; and
<br />WHEREAS, the implementation of the Leases proposals contemplate the use of the
<br />current rates and charges used by Clay Utilities, Inc., as approved by the Public
<br />Service Commission of Indiana and which require the approval of the City of South
<br />Bend;
<br />BE IT RESOLVED, that the terms and conditions of the proposed form of leases are
<br />approved and agreed to solely as the basis for a hearing, as required by law, and
<br />that such hearing should be held before this Common Council upon the necessity for
<br />the execution of such leases and whether the rentals provided for therein are fair
<br />and reasonable rentals for the waterworks facilities, prior to the final determination
<br />of such question, so that this Common Council may determine whether to execute such
<br />leases as now written, or as modified, said hearing to be had at the regular meeting
<br />of this Council to be held the 8th day of October, 1984 at the hour of 7:00 o'clock
<br />P.M. (E.S.T.)
<br />BE IT RESOLVED, that said hearing shall additionally include the determination
<br />as to whether said rates and charges are nondiscriminatory, reasonable and just.
<br />BE IT FURTHER RESOLVED, that the City Clerk cause as notice to be prepared in
<br />due legal form of the aforesaid hearing and published forthwith which notices are in
<br />the form attached hereto and made a part hereof; that a copy of the proposed leases,
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