Approving Industrial Development Revenue Bonds Master-Bilt Inc

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ORDINANCE NO. (vq,�"I -?$ AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIALIDEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION WHEREOF PERTAINING TO MASTER - BILT, INC. STATEMENT OF PURPOSE OF INTENT: The Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Development Commission, hereinafter referred to as "Commission," pursuant to the provi- sions of the Public Law No. 182 of the Acts of the General Assembly of Indiana for 1973, as such may be amended from time to time, including but not limited to IC 18- 6- 4.5 -2, through IC 18- 6- 4.5 -28, hereinafter referred to as the "Act;" and Commission constructi ( faciliti e resulting MASTERBILT, INC. has fil to finance the acquisit on thereof of an industr s) which will constitute in a substantial number benefits; and ed an apple ion of real ial and co economic of new jobs in connection therewith the and placed on file a report containing specified in Section 16 of IC 18 -6 -4.5 thereof to the Chairman of the Area P1 Superintendent of the School Corporati the facilities will be located, and ha reports from each of them; and cation with the estate and the mmercial building development facilities as well as other Commission has prepared the subject matter as and has forwarded copies an Commission and to the on in the area of which s timely received favorable the Commission held a public hearing on the proposed financing of such facilities on August 18, 1978, after giving the required notice as provided for in Section 17 of IC 18 -6 -4.5 and did find that the proposed financing complies with the purposes and provisions of the applicable Indiana statutes governing the issuance of Industrial Development Revenue Bonds by the Commission and the Commission finds that the proposed facility will not have an adverse competitive effect on similar facilities already constructed and operating in the City of South Bend, Indiana; and NOW, THEREOFRE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, that: Section 1. The form and terms of the Lease and Trust Indenture and Industrial Development Revenue Bonds pertaining to MASTERBILT, INC. facilities and the issuance of the Industrial Development Revenue Bond pursuant thereto are hereby approved and adopted. Section 2. Said forms of L together with Industrial Development file with the Commission are hereby i into this Ordinance, and said forms s minutes of the Common Council of the and shall be kept on file by the City ease and Trust Indenture Revenue Bonds which are on ncorporated by reference hall be inserted into the City of South Bend, Indiana Clerk of South Bend, Indiana.