Approving Revenue Bonds Industrial Packaging Corp

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ORDINANCE NO. $G 7 Q -7 q AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO INDUSTRIAL PACKAGING CORPORATION WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the Sout hereinafter referred to as "Commission ", of the Public Law No. 182 of the Acts of Indiana for 1973, as such may be amended but not limited to IC 18- 6 -4.5 -2 through referred to as the "Act "; and z Bend Development Commission, pursuant to the provisions the General Assembly of from time to time, including 18- 6- 4.5 -28, hereinafter WHEREAS, Industrial Packaging Corporation has filed an application with the Commission to finance the construction of an industrial and commercial building (Facilities) which will con- stitute economic development facilities resulting in a substantial number of new jobs as well as other benefits; and WHEREAS, in connection therewith the Commission has pre- pared and placed on file a report containing the subject matter as specified in Section 16 of IC -1973, 18 -6 -4.5 and has forwarded copies thereof to the Chairman of the Area Plan Commission and to the Superintendent of the School Corporation in the area of which the facilities will be located, and has timely received favorable reports from each of them; and WHEREAS, the Commission held a public hearing on the pro- posed financing of such facilities on May 3, 1974, after giving the required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5; and WHEREAS, on the 28th day of May, 1974, this Common Council of the City of South Bend, Indiana, adopted a resolution pursuant to which such financing of such facilities for Industrial Packaging Corporation under the Act was approved after a finding that such proposed financing for such entity would be of benefit to the health or welfare of the City of South Bend, Indiana.