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ORDINANCE NO. SG -Z 3- 2 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST <br />INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS, AND AUTHOR- <br />IZING THE EXECUTION THEREOF PERTAINING TO RIDGEDALE NURSING <br />HOME <br />WHEREAS, the Common Council of the City of South Bend, Indiana, <br />heretofore has created the South Bend Development Commission, hereinafter <br />referred to as "Commission ", pursuant to the provisions of the Municipal <br />Economic Development Act of 1965, as amended, supplemented or added to, in- <br />cluding but not limited to the amendments, supplements, or additions of IC- <br />1973, 18- 6 -4.5, or any other amendments, supplements, or additions thereto, <br />hereinafter referred to as the "Act "; and <br />WHEREAS, Ridgedale Nursing Home has filed an application with the <br />Commission to finance the addition to an existing facility which will consti- <br />tute economic development facilities resulting in a substantial number of <br />new jobs as well as other benefits; and <br />WHEREAS, in connection therewith the Commission has prepared and <br />placed on file a report containing the subject matter as specified in Section <br />16 of IC -1973, 18 -6 -4.5 and has forwarded copies thereof to the Chairman of <br />the Area Plan Commission and to the Superintendent of the School Corporation <br />in the area of which the facilities will be located, and has timely received <br />favorable reports from each of them; and <br />WHEREAS, the Commission held a public hearing on the proposed finan- <br />cing of such facilities on November 9, 1973, after giving the required notice <br />as provided for in section 17 of IC -1973, 18- 6 -4.5; and <br />WHEREAS, on the 17th day of December, 1973, this Common Council of <br />the City of South Bend, Indiana, adopted a resolution pursuant to which such <br />financing of such facilities for Ridgedale Nursing Home, under the Act, was <br />approved after a finding that such proposed financing for such entity would <br />be of benefit to the health or welfare of the City of South Bend, Indiana. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City <br />of South Bend, Indiana, that: <br />Section 1. The form and terms of the Lease and Trust Indenture <br />and Economic Development Revenue Bonds pertaining to Ridgedale Nursing Home <br />FW N CLERK'S OFRCE NoRm <br />1st READING <br />i a - i - �2 3 <br />PUBLIC HEARING <br />is -/ '2 - 73 <br />2nd READING <br />i a _ <br />173 <br />NOT APPROVED <br />REFERRED <br />�) <br />PASSED <br />� � �' � 3 <br />a ' <br />� t Gammon <br />