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ORDINANCE NO. 5446 -72 <br />AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE AND <br />TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS <br />AND THE FORM AND TERMS OF THE LEASE AND TRUST INDENTURE <br />AND BONDS AND THE ISSUANCE OF ECONOMIC DEVELOPMENT <br />REVENUE BONDS PERTAINING TO J. E. WALZ, INC. OF SOUTH BEND, <br />INDIANA <br />WHEREAS, the Common Council of the City of South Bend, <br />Indiana, heretofore has created the South Bend Economic <br />Development Commission pursuant to the provisions of the <br />Municipal Economic Development Act of 1965, as amended, and <br />WHEREAS, the South Bend Economic Development Commission <br />has found by a written resolution that because of existing <br />insufficient employment opportunities, or insufficient <br />diversification of industry, or insufficient pollution control <br />measures, the economic welfare of the City of South Bend, <br />Indiana, would be benefited by the acquisition and leasing to <br />others of industrial facilities, and such resolution and finding <br />has been approved by the Common Council of the City of South <br />Bend, Indiana, and <br />WHEREAS, the South Bend Economic Development Commission <br />has prepared a report estimating the public services which <br />would be desirable by the proposed project, and the expenses <br />thereof, the total project costs of the proposed project <br />and the number of jobs and estimated payroll on account of the <br />acquisition and leasing of the proposed facilities relating <br />to J. E. Walz, Inc. of South Bend and such report has been <br />submitted to the Chairman of the Plan Commission and to the <br />Superintendent of the South Bend Community School Corporation <br />and their written comments have been received by the Clerk <br />of the Common Council of the City of South Bend, Indiana, <br />and such reports and comments have been appropriately made to <br />such Council, and <br />