Laserfiche WebLink
Industrial Realty, an Indiana partnership under the Act was <br />approved after finding that such proposed financing for such <br />entity would be of benefit to the health or welfare of the City of <br />South Bend, Indiana. <br />NOW, THEREFORE, BE IT RESOLVED, 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 Bonds pertaining to <br />Industrial Realty an Indiana partnership facilties and the <br />issuance of the Industrial Development Revenue Bonds pursuant <br />thereto are hereby approved and adopted. <br />Section 2. Said forms of Lease and Trust Indenture <br />together with Industrial Development Revenue Bonds which are on <br />file with The Commission are hereby incorporated by reference into <br />this Ordinance, and said forms shall be inserted into the minutes <br />of the Common Council of the City of South Bend, Indiana, and shall <br />be kept on file by the City Clerk of South Bend, Indiana. <br />Section 3. Said Industrial Development Revenue Bonds <br />payable solely and only from the revenue derived from such <br />Industrial Realty, an Indiana partnership facilities, may be <br />issued in amounts not to exceed $170,000.00 for a period of Fifteen <br />(15) years, with the terms of said Lease and Trust Indenture and that <br />such Bonds shall be executed on behalf of the City of South Bend, <br />Indiana, by the Mayor and City Clerk of South Bend, Indiana, and <br />shall be sealed with the corporate seal of said City. <br />Section 4. This ordinance shall be in full force and <br />effect from and after its passage by the Common Council and <br />approved by the Mayor. <br />