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ORDINANCE NO. 5438 -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 C. E. LEE <br />COMPANY, INC. <br />WHEREAS, the Common Council of the City of South Bend, <br />Indiana, heretofore has created the South Bend Economic Develop- <br />ment :Commission pursuant to the provisions of the Municipal <br />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 insuf- <br />ficient.employment opportunities, or insufficient diversification <br />of industry, or insufficient pollution control measures, the econo- <br />mic welfare of the City of South Bend, Indiana, would be benefited <br />by the acquisition and leasing to others of industrial facilities, and <br />such resolution and finding has been approved by the Common Council <br />of the City 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 of the acquisition and leas- <br />ing of the proposed facilities relating to C. E. Lee Company, Inc. <br />and such report has been submitted to the Chairman of the Plan <br />Commission and to the Superintendent of the South Bend Community. <br />School Corporation and their written comments have been received <br />by the Clerk of the Common Council of the City of South Bend, <br />Indiana, and such reports and comments have been appropriately <br />made to such Council, and <br />WHEREAS, the South Bend Economic Development Commission <br />has approved this form of ordinance authorizing the execution of <br />a Lease and Trust Indenture and Bonds, and the issuance of economic <br />development revenue bonds in accordance therewith, and <br />