Revenue Bonds Pertaining to Gates Realty Inc

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THORNBURG. M<GILL. DEAHL.HARMAN, CAREY& MURRAY ORDINANCE NO. 5 991 -7.S AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO GATES REALTY, INCORPORATED WHEREAS, the Common Council of the City of South Bend, , heretofore has created the South Bend Economic Development ion, hereinafter referred to as 'Commission ", pursuant to the of the Public Law No. 182 of the Acts of the General sembly of Indiana for 1973, as such may be amended from time to ime, including but not limited to IC 18- 6 -4.5 -2 through IC 18 -6- .5 -28, hereinafter referred to as the "Act "; and WHEREAS, Gates Realty, Incorporated has 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 constitute economic development facilities resulting in a substantial number of new jobs as well as other benefit: 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 -1973, 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 pro- posed financing of such facilities on December 5, 1975, after giving the required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5; and WHEREAS, on the 18th day of October, 1974, the Common Council of the City of South Bend, Indiana enacted Ordinance No. 5748 -74 authorizing the issuance of South Bend Economic Development Revenue Bond's in connection with a previous application filed by Gates Realty, Incorporated which said Bonds have not and will not be issued by the City. t;