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ORDINANCE NO. 55'7e.-?3 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE <br />AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE <br />BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING <br />TO J AND S REALTY, A PARTNERSHIP <br />WHEREAS, the Common Council of the City of South Bend, <br />Indiana, heretofore has created the South Bend Development <br />Commission, hereinafter referred to as "Commission ", pursuant <br />to the provisions of the Municipal Economic Development Act <br />of 1965, as amended, supplemented or added to, including but <br />not limited to the amendments, supplements or additions of <br />IC -1973, 18- 6 -4.5, or any other amendments, supplements or <br />additions thereto, hereinafter referred to as the "Act "; and <br />WHEREAS, J and S Realty, a partnership, has filed an <br />application with the Commission to finance the acquisition of <br />real estate and the construction thereon of an industrial <br />and commercial building (facilities) which will constitute <br />economic development facilities resulting in a substantial <br />number of new jobs as well as other benefits; and <br />WHEREAS, in connection therewith the Commission has <br />prepared and placed on file a report containing the subject <br />matter as specified in Section 16 of IC -1973, 18 -6 -4.5 and <br />has forwarded copies thereof to the Chairman of the Area Plan <br />Commission and to the Superintendent of the School Corporation <br />in the area of which the facilities will be located, and has <br />timely received favorable reports from each of them; and <br />WHEREAS, the Commission held a public hearing on the <br />proposed financing of such facilities on d 1973, after <br />giving the required notice as provided for in Section 17 of <br />IC -1973, 18- 6 -4.5; and <br />