REGULAR MEETING JULY 26. 1982
<br />and general welfare of the area and, if not remedied, will be detrimental to the
<br />development of such area.
<br />=The City of South Bend, Indiana (the "City ") is authorized under the provisions
<br />of \Indiana Code, Title 18, Article 6, Chapter 4.5, as amended (the "Act "), to ac-
<br />quire }, construct and finance economic development projects for the users thereof and
<br />to provide for the issuance of revenue bonds in conjunction therewith.
<br />1-1,
<br />City, in order to implement the public purposes enumerated in the Act and
<br />in- furtherance thereof to induce John A. Levy, Timothy Mathias, and Charles C. Davis
<br />(the= "-Borrower ") to purchase and prepare land, purchase, renovate and move a build -
<br />rig to -'said land, and purchase equipment, furnishings, and fixtures (hereinafter
<br />collectively called (the "Project ") within the limits of City of South Bend, Indiana,
<br />has - indicated its intent to issue its revenue bonds under and pursuant to the provisions
<br />of -the Act and to apply the proceeds therefrom to the payment of the costs of the
<br />Project.
<br />'The Borrower, after considering a number of possible locations within and out -
<br />side -the State of Indiana, and in reliance upon the intent of the City to finance
<br />the Project through the issuance of revenue bonds under the provisions of the act,
<br />has - determined to construct the Project within the limits of City of South Bend,
<br />Indiana .
<br />It is now deemed advisable to authorize the execution and delivery by the City
<br />of �ajm6morandum of Intent expressing formally and in writing the understanding here-
<br />tofore formally agreed upon by the City and the Borrower.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana as follows:
<br />11 SECTION 1 The Mayor is hereby authorized and directed to execute a Memorandum
<br />of Intent by and between the City and the Borrower and the City Clerk is hereby
<br />authorized and directed to affix the seal of the City thereto and to attest the
<br />same,- and said Mayor and City Clerk are hereby authorized and directed to cause said
<br />Memorandum of Intent to be delivered to, accepted, and executed by Borrower, said
<br />Memorandum of Intent, which is hereby approved and incorporaterd by reference and
<br />made a part of this authorizing resolution, to be in substantially the form attached
<br />hereto.
<br />SECTION 2 All resolutions and orders, or parts thereof, in conflict with the
<br />provisions of this resolution are, to the extent of such conflict, hereby repealed
<br />and this resolution shall be in immediate effect from and after its adoption.
<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/ Lewis A. McGann
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Daniel Pfeifer, attorney
<br />representing the General Micro Computer, indicated this $275,000 bond issue would be
<br />used to finance the move of a hom at 518 N. Lafayette to the southeast corner of
<br />Washington and William for use as its office. Council Member Szymkowiak made a
<br />motion to adopt this resolution, seconded by Council Member Taylor. The resolution
<br />was adopted by a roll call vote of eight ayes.
<br />BILLS, FIRST READING
<br />BILL NO. 78 -82 A BILL AMENDING ORDINANCE NO. 4990 -68, AS AMENDED, COMMONLY
<br />KNOWN.AS THE ZONING ORDINANCE OF THE CITY OF SOUTH BEND,
<br />INDIANA (CHAPTER 21, MUNICIPAL CODE) (INWOOD AND IRONWOOD.)
<br />This bill had first reading. Council Member Voorde made a motion to set this bill
<br />for public hearing and second reading August 9, 1982, seconded by Council Member
<br />Taylor. The motion carried.
<br />BILL NO. 79 -82 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
<br />INDIANA, AMENDING VARIOUS SECTIONS OF CHAPTER 4 OF THE
<br />MUNICIPAL CODE OF THE CITY OF SOUTH BEND, INDIANA, COMMONLY
<br />KNOWN AS LICENSES, AND BY THE ADDITION OF SECTION 4 -42
<br />ENTITLED PARAPHERNALIA.
<br />This bill had first reading. Council Member Zielinski made a motion to set this
<br />bill for public hearing and second reading August 9, 1982, and refer it to the Per -
<br />sonnel & Finance Committee, seconded by Council Member Voorde. The motion carried.
<br />BILL NO. 80 -82 A BILL APPROPRIATING $25,000.00 FROM THE LOCAL ROAD AND
<br />STREET FUND TO PROJECT R &S 8205, EDISON ROAD IMPROVEMENTS,
<br />WITHIN THE LOCAL ROAD AND STREET FUND.
<br />This bill had first reading. Council Member Voorde made a motion to refer this bill
<br />to the Utilities Committee, seconded by Council Member Crone. The motion carried.
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