Approving Revenue Bonds Real America Development Inc

Home Browse Search

XIFZI U,i O. MIi ILt. o_ /.HL, HARMAN, CgRSY ft 1,uRRlY ORDINANCE NO. 56 g -7 _ 7 cF AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO REAL AMERICA DEVELOPMENT, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Development Commis- sion, hereinafter referred to as "Commission ", pursuant to the pro- visions of the Public Law No. 182 of the Acts of the General Assembly of Indiana for 1973, as such may be amended from time to time, including but not limited to IC 18- 6 -4.5 -2 through IC 18- 6 -4.5- 28, hereinafter referred to as the "Act "; and WHEREAS, Real America Development, Inc, has filed an application with the Commission to finance the acquisition of real estate and the construction thereon of an industrial and commercial building (facilities) which will constitute 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 / 7 , 1974, after giving the required notice as provided for n Section 17 of IC -1973, 18- 6 -4.5; and WHEREAS, on the L day of , 1974, this Common Council of the City of South Ben P, Indiana, adopted a re- solution pursuant to which such financing of such facilities for Real America Development, Inc. 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.