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Approving Industrial Development Revenue Bonds Malin Development co & Imagineering Enterprises
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Approving Industrial Development Revenue Bonds Malin Development co & Imagineering Enterprises
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/14/1978
Ord-Res Number
6428-78
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ORDINANCE NO.G ya8�8 <br />/MORTGAGE <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST <br />INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND <br />AUTHORIZING THE EXECUTION THEREOF PERTAINING TO MARLIN <br />DEVELOPMENT CO. AND IMAGINEERING ENTERPRISES, <br />STATEMENT OF PURPOSE OF INTENT: <br />The Common Council of the City of South Bend, Indiana, <br />heretofore has created the South Bend Development Commission, <br />hereinafter referred to as "Commission," pursuant to the provi- <br />sions 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 <br />to time, including but not limited to IC 18- 6- 4.5 -2, through <br />IC 18- 6- 4.5 -28, hereinafter referred to as the "Act;" and <br />MARLIN DEVELOPMENT CO. AND IMAGINEERING ENTERPRISES has <br />filed an application with the Commission to finance the acquisition <br />of real estate and the construction thereof of an industrial and <br />commercial building (facilities) which will constitute economic <br />development facilities resulting in a substantial number of new <br />jobs as well as other benefits; and <br />in connection therewith the Commission has prepared <br />and placed on file a report containing the subject matter as <br />specified in Section 16 of IC 18 -6 -4.5 and has forwarded copies <br />thereof to the Chairman of the Area Plan Commission and to the <br />Superintendent of the School Corporation in the area of which <br />the facilities will be located, and has timely received favorable <br />reports from each of them; and <br />the Commission held a public hearing on the proposed <br />financing of such facilities on August 4 , 1978, after giving <br />the required notice as provided for in Section 17 of IC 18 -6 -4.5 <br />and did find that the proposed financing complies with the purposes <br />and provisions of the applicable Indiana statutes governing the <br />issuance of Industrial Development Revenue Bonds by the Commission <br />and the Commission finds that the proposed facility will not have <br />an adverse competitive effect on similar facilities already <br />constructed and operating in the City of South Bend, Indiana; and <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council <br />of the City of South Bend, Indiana, that: <br />/Mortgage <br />Section 1. The form and terms of the Lease and Trust <br />Indenture and Industrial Development Revenue Bonds pertaining to <br />MARLIN DEVELOPMENT CO. AND IMAGINEERING ENTERPRISES facilities <br />and the issuance of the Industrial Development Revenue Bond <br />pursuant thereto are hereby approved and adopted. <br />/Mortgage <br />Section 2. Said forms of Lease and Trust Indenture <br />together with Industrial Development Revenue Bonds which are on <br />file with the Commission are hereby incorporated by reference <br />into this Ordinance, and said forms shall be inserted into the <br />minutes of the Common Council of the City of South Bend, Indiana <br />and shall be kept on file by the City Clerk of South Bend, Indiana. <br />/Mortgage <br />Section 3. The Lease and Trust Indenture shall be <br />executed on behalf of the City of South Bend, Indiana by the <br />Mayor and City Clerk and sealed with the corporate seal of such City. <br />
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