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ORDINANCE NO. gg/' 2-22 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST <br />�c <br />I <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 <br />provisions of the Public Law No. 182 of the Acts of the <br />General Assembly of Indiana for 1973, as such may be amended <br />from time to time, including but not limited to IC 18- 6- 4.5 -2, <br />through IC 18- 6- 4.5 -28, hereinafter referred to as the "Act "; <br />and <br />GRIFFIN'S OUTBOARD MARINE, INC., has filed an application <br />with the Commission to finance the acquisition of real estate <br />and the construction thereof of an industrial and commercial <br />building (facilities) which will constitute economic develop- <br />ment facilities resulting in a substantial number of new jobs <br />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 <br />as specified in Section 16 of IC 18 -6 -4.5 and has forwarded <br />copies thereof to the Chairman of the Area Plan Commission <br />and to the Superintendent of the School Corporation in the <br />area of which the facilities will be located, and has timely <br />received favorable reports from each of them; and <br />the Commission held a public hearing on the proposed <br />financing of such facilities on May 13, 1977, after giving <br />the required notice as provided for in Section 17 of <br />IC 18 -6 -4.5 and dial find that the proposed financing complies <br />with the purposes and provisions of the applicable Indiana <br />statutes governing the issuance of`Industrial Development <br />Revenue Bonds by the Commission and the Commission finds that <br />the r:^oposed facility will not have an adverse competitive <br />effect on similar facilities already constructed and operating <br />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 <br />to GRIFFIN'S OUTBOARD MARINE, INC., facilities and the <br />issuance of the Industrial Development Revenue Bond pursuant <br />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 <br />on file with the Commission are hereby incorporated by <br />reference into this Ordinance, and -said forms shall be inserted <br />into the minutes of the Common Council of the City of South <br />Bend, Indiana and shall be kept on file by the City Clerk <br />of South Bend, Indiana. <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 <br />such City. <br />