02-11-80 Council Meeting Minutes

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REGULAR MEETING FEBRUARY 11 1980 REGULAR MEETING RECONVENED (CONTINUED Albert Michelson /Leonard Bush 1147 Prairie Avenue Albert Mickelson 307 West Calvert Indiana Iron & Metal 1602 South Lafayette Herbert Alpern Max Schneider Co., Inc. 429 West Indiana South Bend Iron & Metal Company 429 West Indiana South Bend Auto Parts 1819 South Main. Fire: 1 -15 -80 Environmental 1 -21 -80 Fire: 1 -15 -80 Environmental 1 -21 -80 Fire: 1 -16 -80 Environmental 1 -16 -80 Fire: 1 -15 -80 Environmental 1 -21 -80 Fire: 1 -15 -80 Environmental 1 -21 -80 Fire: 1 -16 -80 Environmental 1 -18 -80 SECTION II. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s /Lewis A. McGann Member of the Common Council A public hearing was held on the resolution at this time. Mr. Joseph Kernan,, City Controller, indicated that inspections have been made of the scrap and junk dealers by the Environmental Protection Office and the Fire Prevention Bureau. Council Member Serge made a motion to adopt this resolution, seconded by Council Member Szymkowiak. Council Member Kopczynski indicated that all yards would have to be fenced with opaque fencing by July of this year. Mr. Harold Bruseke, attorney representing certain scrap dealers, indicated that they are aware of the fencing requirement and will comply. The resolution was adopted by a roll call vote of nine ayes RESOLUTION NO. 754 -80 A RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH SOUTH BEND FORGE, INC., RELATING TO THE ACQUISITION, CON- STRUCTION AND INSTALLATION OF ADDITIONAL ECONOMIC DEVELOPMENT FACILITIES TO BE USED,AS A HOT FORGING PRESS FACILITY WITHIN THE BOUNDARIES OF THE`CITY.OF SOUTH BEND, INDIANA. WHEREAS; the City of;_South Bend, Indiana•(the "Issuer ")., by_vrtue of the laws of the State of Indiana, including the Municipal Economic Development Act of 1965, as amended, Indiana Code of 1971, Title 18, Article 6, Chapter 4.5 (the "Act "), is authorized and empowered, among other things, (a) to provide funds to pay costs of additional economic development facilities within the boundaries of the Issuer (the "Facility:), to be owned and used by South Bend Forge, I C. (the "Company "), (b) to issue additional economic development revenue bonds for the purpose of paying the costs of such additional acquisition, construction and financing, (c) to secure such additional economic development revenue bonds by an indenture, including the pledge 'and assignment of revenue derived from such additional economic development facilities to the payment of said revenue bonds and the assignment of a mortgage of such facilities for the benefit of the bondholders, and (d) to enter into the loan agreement hereinafter mentioned; and WHEREAS, the Common Council of the Issuer previously has authorized and issued its economic development revenue .bonds in the aggregate principal amount of $6,000,000 for thepurpose of financing a hot forging press facility owned and operated by the Company;.and WHEREAS, the Company desires to expand the facility and to finance such expansion with additional economic development revenue bonds of the Issuer; and WHEREAS, it'is the desire of the members of the Common Council of the Issuer that the ad- ditional jobs and employment opportunities resulting from the Facility be provided at the earliestpossible moment and that the economic improvement produced by the operation of the Facility within the Issuer occur at the earliest possible time; and WHEREAS, under the provisions of Development Commission (the "Commissii certain proceedings and adopt certain economic development revenue bonds to and installation of such Facility.and and theAct it will be necessary for the South Bend Economic 3n ") and the Common Council of the Issuer to undertake legislation prior to the issuance of any additional provide funds for the additional acquisition, construction prior to the execution of any loan agremeent therefor; WHEREAS, this Common Council desires to initiate certain formal steps necessary to secure the commitment of the Company to acquire anduse the Facility and to provide for other matters incidental thereto; NOW; THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, that: SECTION 1. It does hereby approve a finding and determination by the Commission that: a. The real and personal property to be included in the Facility will be an "economic development facility" within the meaning of those terms in the Act. b. That the utilization of such real andpersonal property in the creation and location of the FAcility would be economically sound and will benefit the health, prosperity, economic stability and general welfare of the Issuer and that because of existing insufficient employment opportunities and insufficient diversification of industry within the Issuer, the economic welfare of the Issuer would be bene- fitted by the acquisition and use of the Facility by the Company.