Authorize Revenue Bond R Lee Fagen, DBA Fagen Enterprises

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acquisition and leasing of the proposed facilities relating to R. Lee Fagen, d /b /a Fagen Enterprises, .(hereinafter called the "user ") pursuant to P.L. 182, Acts 1973, IC 18 -6 -4.5 et seq. and such report has been submitted to the Chairman of the Area Plan Commission and the Superintendent of the School Corporation, and the written comments of said Commission and Superintendent have been received the Commission ans such reports and comments have been favorable; and WHEREAS, the Commission has approved this form of ordinance authorizing_ the execution of a Lease Financing Agreement and Trust Indenture, Mortgage and Bond, and the issuance of an Economic Development Revenue Bond in accordance therewith; and WHEREAS, The Commission has transmitted this form of ordinance to the City Clerk for the presentation to the Common Council; and WHEREAS, theCommission held a public hearing on the proposed refinancing of such facilities on YQ 4 1974, after giving the required notice as provided for in P.L. 182, Acts 1973, IC 18 -6 -4.5 to IC 18- 6- 4.5 -29; and WHEREAS, the City Clerk has published in a newspaper published in South Bend, Indiana, a totice that such form of ordinance has been filed with the City Clerk in accordance with the provisions of P.L. 182, Acts 1973, IC 18- 6 -4.5 -1 to IC 18- 6- 4.5 -28; and WHEREAS, the Common Council finds that the proposed development will be of public benefit to the economic welfare of the City, by tending to overcome the deficiencies previously found to exist and that such benefit is greater than the cost of the public facilities which would be required by the proposed project relating to the user. NOW, THEREFORE, BE IT ORDAINED, by the Common Council of the City of South Bend, Indiana, that: Section 1. The form and terms of the Lease Financing Agreement and Trust Indenture, Mortgage, and Economic Development Revenue Bond pertaining to the facilities of the user and the issuance of an