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Revenue Bonds Pertaining to Capitol Tooling Inc
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Revenue Bonds Pertaining to Capitol Tooling Inc
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Last modified
11/15/2013 1:48:27 PM
Creation date
11/4/2013 9:21:50 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/20/1975
Ord-Res Number
5905-75
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ORDINANCE NO. 590 S- 25 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND <br />TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, <br />AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO <br />CAPITOL TOOLING, INC. <br />WHEREAS, the Common Council of the City of South Bend, <br />'Indiana, heretofore has created the South Bend Economic Development <br />Commission, hereinafter referred to as "Commission ", pursuant to the <br />provisions 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 to time,; <br />including but not limited to IC 18- 6 -4.5 -2 through IC 18- 6- 4.5 -28, <br />hereinafter referred to as the "Act "; and <br />WHEREAS, Capitol Tooling, Inc. has filed an application with <br />the Commission to finance the acquisition of financing of certain <br />machinery and equipment which will constitute economic development <br />facilities resulting in a substantial number of new jobs as well as <br />other benefits; and <br />WHEREAS, in connection therewith the Commission has prepared <br />and placed on file a report containing the subject matter as specified <br />in Section 16 of IC -1973, 18 -6 -4.5 and has forwarded copies thereof <br />to the Chairman of the Area Plan Commission in the area of which the <br />;facilities will be located, and has timely received a favorable <br />;report from the Area Plan Commission; and <br />WHEREAS, the Commission held a public hearing on the pro - <br />posed financing of such facilities on September 9, 1975, after giving <br />the required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5; <br />and <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of <br />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 />Capitol Tooling, Inc. facilities and the issuance of the Industrial <br />Development Revenue Bonds pursuant thereto are hereby approved and <br />adopted. <br />THORNBURG, A1CGILL. <br />DEAHL. HARMAN. <br />CAREY &MVRRAY <br />
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