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ORDINANCE NO. -2 3 <br />AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE <br />AND TRUST INDENTURE AND ECONOMIC DEVELOPMENT <br />REVENUE BONDS AND THE FORM AND TERMS OF THE LEASE <br />AND TRUST INDENTURE AND BONDS AND THE ISSUANCE OF <br />ECONOMIC DEVELOPMENT REVENUE BONDS PERTAINING TO <br />FIRST BANK AND TRUST COMPANY OF SOUTH BEND TRUSTEE <br />FOR LAND TRUST NO. 29 -5121 <br />WHEREAS, the Common Council of the City of South Bend, Indiana, <br />heretofore has created the South Bend Economic Development Commission <br />pursuant to the provisions of the Municipal Economic Development Act of 1965, <br />as amended, and <br />WHEREAS, the South Bend Economic Development Commission has <br />found by a written resolution that because of existing insufficient employment <br />opportunities, or insufficient diversification of industry, or insufficient <br />pollution control measure, the economic welfare of the City of South Bend, <br />Indiana, would be benefited by the acquisition and leasing to others of <br />industrial facilities, and such resolution and finding has been approved by <br />the Common Council of the City of South Bend, Indiana, and <br />WHEREAS, the South Bend Economic Development Commission has <br />prepared a report estimating the public services which would be desirable by <br />the proposed project, and the expenses thereof, the total project costs of the <br />proposed project and the number of jobs and estimated payroll on account of <br />the acquisition and leasing of the proposed facilities relating to First Bank <br />and Trust Company of South Bend, Trustee for Land Trust No. 29 -5121, and <br />such report has been submitted to the Chairman of the Plan Commission and <br />to the Superintendent of the South Bend Community School Corporation and <br />their written comments have been received by the Clerk of the Common Council <br />of the City of South Bend, Indiana, and such reports and comments have been <br />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 Lease and Trust <br />