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Revenue Bonds Pertaining to General Recycling Corp
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Revenue Bonds Pertaining to General Recycling Corp
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Last modified
11/15/2013 1:48:31 PM
Creation date
11/4/2013 3:59:04 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/15/1975
Ord-Res Number
5938-75
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ORDINANCE NO. <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE <br />AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, <br />AND AUTHORIZING THE EXECUTION THEREOF PERTIANING TO <br />GENERAL RECYCLING CORPORATION. <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 18- 6- 4.5 -28, <br />hereinafter referred to as the "Act "; and <br />WHEREAS, GENERAL RECYCLING CORPORATION has filed an <br />application with the Commission to finance the construction of a <br />new building and for the purchasing of equipment and machinery which <br />will constitute economic development facilities resulting in a <br />substantial number of new jobs as well as 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 <br />proposed financing of such facilities on December 5, 1975, after the <br />required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5; <br />amd <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 />GENERAL RECYCLING CORPORATION facilities and the issuance of the <br />Industrial Development Revenue Bonds pursuant thereto are hereby <br />
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