Approving Revnue Bonds Pertaining Lomaz, Weisman and Zmuidzinski Aluma Products Co

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THORNBURG, MCGILL. DLAHL, HARMAN. CAREY & MURRAY ORDINANCE NO. (, et o S -7 7 AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO RALPH D. LOMAZ, MANUEL C. SPATZ, IRA M. WEISMAN AND JAMES G. ZMUDZINSKI (ALUMA PRODUCTS CO., INC. PROJECT) STATEMENT OF PURPOSE OF INTENT: The Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Development Commis- sion, hereinafter referred to as "Commission" pursuant to the provisions of the Public Law No. 182 of the Acts of the General Assembly of Indiana for 1973, as such may be amended from time to time, including but not limited to IC 18- 6 -4.5 -2 through IC 18- 6- 4.5 -28, hereinafter referred to as the "Act "; and RALPH D. LOMAZ, MANUEL C. SPATZ, IRA M. WEISMAN AND JAMES G. ZMUDZINSKI have 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 consti- tute 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 Section 16 of IC 18 -6 -4.5 and has forwarded copies thereof to the Chairman of the Area Plan Commission and to the Superintendent of the School Corporation in the area of which the 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 facilities on July 8 , 1977, after giving the required notice as provided for in Section 17 of IC 18 -6 -4.5 and did find that the proposed financing complies with the purposes and provisions of the applicable Indiana statutes govern- ing the issuance of Industrial Development Revenue Bonds by the Commission and the Commission finds that the proposed facility will not have an adverse competitive effect on similar facilities already constructed and operating in the City of South Bend, Indiana; and