Authorizing Revenue Bonds - FBT Bancorp Inc

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ORDINANCE NO. 5569 -73 AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS AND THE FORM AND TERMS OF THE LEASE AND TRUST INDENTURE AND BONDS AND THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS PERTAINING TO FBT BANCORP, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Economic Development Commission pursuant to the provisions of the Municipal Economic Development Act of 1965, as amended, and WHEREAS, the South Bend Economic Development Commission has found by a written resolution that because of existing insufficient employment opportunities, or insufficient diversification Of industry, or insufficient pollution control measures, the economic welfare of the City of South Bend, Indiana, would be benefited by the acquisition and leasing to others of industrial facilities, and such resolution and finding has been approved by the Common Council of the City of South Bend, Indiana, and WHEREAS, the South Bend Economic Development Commission has prepared a report estimating the public services which would be desirable by the proposed project, and the expenses thereof, the total project costs of the proposed project and the number of jobs and estimated payroll on account of the acquisition and leasing of the proposed facilities relating to FBT Bancorp, Inc., and such report has been sub- mitted to the Chairman of the Plan Commission and to the Superintendent of the South Bend Community School Corporation and their written comments have been received by the Clerk of the Common Council of the City of South Bend, Indiana, and such reports and comments have been appropriately made to such Council, and WHEREAS, the South Bend Economic Development Commission has approved this form of ordinance authorizing the execution of a Lease and Trust Indenture and Bonds, and the issuance of economic development