Approving Industrial Development Revenue Bonds Hoosier Spring Co

Home Browse Search

ORDINANCE NO. ( 3 "- 7 F? AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO THE HOOSIER SPRING CO., INC. PROJECT STATEMENT OF PURPOSE OF INTENT: The Common Council of the City of South Bend, Indiana, heretofore has Commission, hereinafter provisions of the Publi Assembly of Indiana for time, including but not hereinafter referred to created the South Bend Economic Development referred to as "Commission" pursuant to the Law No. 182 of the Acts of the General 1973, as such may be amended from time to limited to IC 18- 6 -4.5 -1 through IC 18- 6- 4.5 -30, as the "Act ": and HOOSIER SPRING CO., INC., an Indiana corporation, has filed an application with the Commission to finance the acquisition of real estate and the construction thereon of an industrial and commercial building (facilities) which will constitute economic development facilities resulting in a substantial number of new jobs as well as other benefits, and in connection therewith the Commission has prepared and placed on file a report containing the subject matter as specified in IC 18- 6- 4.5 -16 and has forwarded copies thereof to the Chairman of the Area Plan Commission of St. Joseph County, Indiana, and to the Superintendent of the South Bend School Corporation, being the area in which the proposed facilities will be located, and has timely received favorable reports from each of them, and the Commission held a public hearing on the proposed financing of such economic development facilities in accordance with the Act after giving the required notice as provided in the Act, and adopted a resolution finding that such proposed financing complies with the purposes and provisions of all applicable Indiana statutes governing the issuance of Industries -1 Development Revenue Bonds, including but not limited to the Act, and that such economic development facilities will not have an adverse competitive effect on similar-facilities already constructed and operating in the City of South Bend, Indiana.