Confirming the Sale of $2,300,000 Economic Development Revenue Bonds

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Tvmntittve Kwort ilia the Tommu Touuril of Ot tdity of ooutli Ernd: Your Committee of the Whole to whom was referred AN ORDINANCE PROVIDING FOR THE FINANCING AND ACQUISITION OF AN ECONOMIC DEVELOPMENT PROJECT AND THE LEASING OF THE SAME TO ST. JOSEPH DEVELOPMENT CO., INC., AN INDIANA CORPORATION; AUTHORIZING THE SUBLETTING OF PORTIONS OF SUCH PROJECT TO, AMONG OTHERS, ST. JOSEPH BANK AND TRUST COMPANY, AN INDIANA BANKING ASSOCIATION; AUTHORIZING THE ISSUANCE AND CON- FIRMING THE SALE OF $2,300,000 PRINCIPAL AMOUNT OF ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1975 (ST. JOSEPH DEVELOPMENT CO., INC. PROJECT), FOR THE PURPOSE OF PAYING THE COST OF FINANCING AND ACQUIRING THE ECONOMIC DEVELOPMENT PROJECT AND NECESSARY EXPENSES INCIDENTAL THERETO; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE SECURING THE BONDS; APPROVING THE FORM OF A SUBLEASE FROM ST. JOSEPH DEVELOPMENT CO., INC. TO ST. JOSEPH BANK AND TRUST COMPANY; AND PRESCRIBING OTHER MATTERS PERTAINING THERETO. Respectfully report that they have examined the matter and that in their opinion the Ordinance Should be recommended favorably to the Common Council. Odell Newburn Chairman '... ..... r , ....... N. CO.