Approving Revenue Bonds Leyba, Sulentic and Bevis

Home Browse Search

ORDINANCE NO. (n0 � 3 -7 AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO BENEDICT R. LEYBA and ELSIE M. LEYBA, husband and wife; STEVEN M. SULENTIC and DONNARAE M. SULENTIC, husband and wife; and DUANE D. BEVIS WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Economic Development Commission, 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 WHEREAS, Benedict R. Leyba and Elsie M. Leyba, husband and wife; Steven M. Sulentic and Donnarae M. Sulentic, husband and wife; and Duane D. Bevis 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 con- stitute economic development facilities resulting in a substantial number of new jobs.as well as other benefits and WHEREAS, in connection therewith the Commission has pre- Jared and placed on file a report containing the subject matter as 3peci£ied in Section 16 of IC -1973, 18 -6 -4.5 and has forwarded copies !hereof to the Chairman of the Area Plan Commission and to the Super- intendent of the School Corporation in the area of which the facilities aill be located, and has timely received favorable reports from each )f them; and WHEREAS, the Commission held a public hearing on the pro - osed financing of such facilities on August 20, 1976, after giving