Approving Revenue Bonds Delta Star Electric Inc

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ORDINANCE NO. r,p t &--'%`'% AN ORDINANCE APPROVING THE 'FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO DELTA STAR ELECTRIC, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the Commission, hereinafter referred to to the provisions of the Public Law the General Assembly of Indiana for from time to time, including but no through IC 18- 6- 4.5 -28, hereinafter South Bend Development as "Commission ", pursuant No, 182 of the Acts of 1573, as such may be amended t limited to IC 18- 6- 4.5 -2, referred to as the "Act "; and WHEREAS, Delta Star Electric, Inc. has filed an application with the Commission to finance the acquisition of real estate and the construction thereof of an industrial and coyi- nercial building (facilities) which will constitute economic development facilities resulting in a substantial number of new jobs as well as other benefits; and WHEREAS, 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 WHEREAS, the Commission held a public hearing on the proposed financing of such facilities on March 11, 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 governing the issuance of Industrial Development Revenue Bonds by the Commission and the Commission did find that the proposed facility will not have