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ORDINANCE NO. 5-1V199-95, <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF THE <br />LEASE AGREEMENT AND INDENTURE OF TRUST AND INDUSTRIAL <br />DEVELOPMENT REVENUE BONDS AND AUTHORIZING THE EXECUTION <br />THEREOF PERTAINING TO IBS INVESTMENTS, 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 <br />the 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 <br />time, incuding 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, IBS Investments, Inc. has filed with the Commission, <br />an application to finance the acquisition of real estate and the <br />construction thereon of an industrial and commercial building <br />(facilities) which will constitute economic development facilities <br />resulting in a substantial number of new jobs as well as other <br />benefits; and <br />WHEREAS, in connection therewith the Commission has prepared <br />and placed on file a report containing the subject matter as <br />specified in Section 16 of IC -1973, 18 -6 -4.5 and has forwarded <br />copies thereof to the Chairman of the Area Plan Commission and to <br />the Superintendent of the School Corporation in the area of which <br />the facilities will be located, and has timely received favorable <br />reports from each of them; and <br />WHEREAS, the Commission held a public hearing on the <br />proposed financing of such facilities on February 21, 1975, after <br />giving the required notice as provided for in Section 17 of IC -1973, <br />18- 6 -4.5; 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 Agreement <br />and Indenture of Trust and Industrial Development Revenue Bonds <br />pertaining to IBS Investments, Inc. facilities and the issuance of <br />the Industrial Development Revenue Bonds pursuant thereto are <br />hereby approved and adopted. <br />