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ORDINANCE NO. S s 90 -70 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND <br />TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS, <br />AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO <br />IRONWOOD 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 to <br />the provisions of the Municipal Economic Development Act of <br />1965, as amended, supplemented or added to, including but not <br />limited to the amendments, supplements or additions of IC -1973, <br />18- 6.4.5, or any other amendments, supplements or additions <br />thereto, hereinafter referred to as the "Act "; and <br />WHEREAS, Ironwood Partnership has filed an application <br />with the Commission to finance the acquisition of real estate <br />and the construction thereon of a commercial building (facilities) <br />which will constitute economic development facilities resulting <br />in a substantial number of new jobs as well as other benefits; <br />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 74.5 and has <br />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 July 27, 1973, after <br />giving the required notice as provided for in Section 17 of <br />IC -1973, 18- 6 -4.5; and <br />