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z <br />ORDINANCE NO. S'7 & I- <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND <br />TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS <br />AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO <br />THERMOPLASTICS, INC. <br />WHEREAS, THE COMMON COUNCIL of the City of South Bend, <br />Indiana heretofore has created the South Bend Development Commission <br />hereinafter referred to as "Commission ", pursuant to the provisions <br />of the Public Law No. 182 of the Acts of the General Assembly of <br />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 IC 18- 6- 4.5 -28 <br />hereinafter referred to as the "Act "; and <br />WHEREAS, Thermoplastics, Inc. an Indiana corporation has <br />filed an application with the Commission to finance leased <br />industrial equipment for industrial and commercial building <br />(facilities) which will constitute economic development <br />facilities resulting in a substantial number of jobs as well <br />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 <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 in 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 November 15, 1974, after <br />giving the required notice as provided for in Section 17 of <br />IC 1973, 18- 6 -4.5; and <br />WHEREAS, ON THE 16th day of December 1974, <br />this Common Council of the City of South Bend, Indiana adopted a <br />resolution pursuant .to which such financing of such facilities for <br />