Authorizing Revenue Bonds - R Lee Fagen d/b/a Fagen Enterprises

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NO. 357-4/0 -173 AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE, TRUST INDENTURE, ECONOMIC DEVELOPMENT REVENUE BONDS AND THE 'FORMS AND TERMS OF THE LEASE AND TRUST INDENTURE AND BONDS AND MORTGAGE AND THE ISSUANCE OF ECONOMIC DEVEL- OPMENT REVENUE BONDS PERTAINING TO R. LEE FAGEN d /b /a FAGAN ENTERPRISES 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 bV 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 acquisi- tion and leasing to others of industrial facilities, and such resolu- tion 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 estimatin§ the public services which would be desirable by the proposed project, and yhe expenses,thereof, the total project costs of the proposed project and the number of jobs and the estimated payroll on account of the acquisition and leasing of the proposed facilities relating to R. Lee Fagen d /b /a Fagen Enterprises and such report has been submitted 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