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*`:. , > <br />ORDINANCE NO. <br />5420 -72 <br />AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE <br />AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE <br />BONDS AND THE FORM AND TERMS OF THE LEASE AND TRUST <br />INDENTURE AND BONDS AND THE ISSUANCE OF ECONOMIC <br />DEVELOPMENT REVENUE BONDS PERTAINING TO THE SOUTH <br />BEND TOY MANUFACTURING COMPANY, INC. <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 <br />to_ others of industrial facilities, and such resolution and <br />finding has been approved by the Common Council of the City <br />of South Bend, Indiana, and <br />WHEREAS, the South Bend Economic Development Commission <br />has prepared a report estimating the public services which would <br />be desirable by the proposed project, and the expenses thereof, <br />the total project costs of the proposed project and the number of <br />jobs and estimated payroll on account -,cif the acquisition and <br />leasing,of the proposed facilities relating to The South Bend <br />Toy Manufacturing Company, Inc. and such report has been submitted <br />to the Chairman of the Plan Commission and to the Superintendent <br />of the South Bend Community School Corporation and their written <br />comments have been received by the Clerk of the Common Council of <br />the City of South Bend, Indiana, and. such reports and comments <br />have been appropriately made to such Council, and <br />WHEREAS, the South Bend Economic Development Commission has <br />approved this form of ordinance authorizing the execution of a <br />Lease and Trust Indenture and Bonds, and the issuance of economic <br />development revenue bonds in accordance therewith, and <br />