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NO. 5458 -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 HOFFMAN BROS. <br />SALES AND SERVICE AND /OR "AUTO ELECTRIC WAREHOUSING, 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 <br />of jobs and estimated payroll on account of the acquisition and <br />leasing of the proposed facilities relating to Hoffman Bros. <br />Sales and Service and /or Auto Electric Warehousing, Inc., and <br />such report has been submitted to the Chairman of the Plan <br />Commission and to the Superintendent of the South Bend Cbmmunity <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 made <br />to such Council, and <br />