Approving Revenue Bonds Great Northern Distributors Inc

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ORDINANCE NO. SSS:3- ?3 AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO GREAT NORTHERN DISTRIBUTORS, INC. WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Economic Develop- ment Commission, hereinafter referred to as "Commission ", pursuant to the provisions of the Municipal Economic Development Act of 1965, as amended, supplemented or added to by IC -1971, 18 -6 -4 as amended, supplemented or added to by IC -1973, 18- 6 -4.5, or any other amendments, supplements or additions thereto, hereinafter referred to as the "Act "; WHEREAS, Great Northern Distributors, Inc. has filed an application with the Commission to finance the acquisition of real estate and the construction thereon of a warehouse (facilities) which will constitute economic development facilities resulting in a substantial number of new jobs as well as other benefits; 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; WHEREAS, the Commission held a public hearing on the pro- posed financing of such facilities as of July 6, 1973 after giving the required notice as provided for in Section 17 of IC -1973, 18-6-4.5;