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ORDINANCE NO . (o P p q -"] "% <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 BENEDICT R. <br />LEYBA,AND ELSIE M. LEYBA, HUSBAND AND WIFE; STEVEN M. SULENTIC <br />AND DONNARAE M. SULENTIC, HUSBAND AND WIFE; AND DUANE D. BEVIS <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 />BENEDICT R. LEYBA and ELSIE M. LEYBA, husband and wife; <br />STEVEN M. SULENTIC and DONNARAE M. SULENTIC, husband and wife; and <br />DUANE D. BEVIS has filed an application with the Commission to <br />finance the acquisition of real estate and the construction thereof <br />of an industrial and commercial building (facilities) which will <br />constitute economic development facilities resulting in a substan- <br />tial number of new 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 July 8th , 1977, 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 />Section 1. The form and terms of the Lease and Trust <br />Indenture and Industrial Development Revenue Bonds pertaining to <br />BENEDICT R. LEYBA and ELSIE M. LEYBA, husband and wife; STEVEN M. <br />SULENTIC and DONNARAE M. SULENTIC, husband and wife; and DUANE D. <br />BEVIS facilities and the issuance of the Industrial Development <br />Revenue Bond pursuant thereto are hereby approved and adopted. <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 />