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ORDINANCE NO. S sa y -12,3 <br />AN ORDINANCE TO AUTHORIZE THE EXECUTION OF A LEASE, IN- <br />DENTURE OF TRUST, AND BONDS AND TO AUTHORIZE THE ISSUANCE <br />OF ECONOMIC DEVELOPMENT REVENUE BONDS PERTAINING TO <br />AUGUST G. VANDERHEYDEN. <br />WHEREAS, The Common Council of the City of South Bend, Indiana, <br />(hereinafter called the "Common Council "), heretofore has created the South <br />Bend Economic Development Commission (hereinafter called the "Commission ") <br />pursuant to the provisions of the Municipal Economic Development Act of 1965, <br />as amended; and <br />WHEREAS, the Commission has found by a written resolution that <br />because of existing insufficient diversification of industry, or insufficient <br />pollution control measures, the economic welfare of the City of South Bend, <br />Indiana, (hereinafter called the "City "), would be benefited by the construction, <br />equipping, and leasing to others of industrial facilities, and such resolution <br />and finding has been approved by the Common Council; and <br />WHEREAS, the Commission has prepared a report estimating the public <br />services which would be desirable by the proposed project, and the expenses <br />thereof, the total costs of the proposed project and the number of jobs and <br />estimated payroll on account of the acquisition and leasing of the proposed <br />facilities relating to August G. Vanderheyden, (hereinafter called the "Lessee "), <br />and such report has been submitted to the Chairman of the Area Plan Commission <br />and the written comments of said Commission have been received by the Clerk <br />of the Common Council and such reports and comments have been appropriately <br />made to such Council; and <br />WHEREAS, the Commission has approved this form of ordinance author- <br />izing the execution of a Lease and Indenture of Trust and Bonds, and the <br />issuance of economic development revenue bonds in accordance therewith; and <br />WHEREAS, the Commission has transmitted this form of ordinance <br />to the City Clerk for the presentation to the Common Council; and <br />WHEREAS, the City Clerk has published in a newspaper published <br />in South Bend, Indiana, a notice that such form of ordinance has been filed <br />with the City Clerk in accordance with the provisions of said Municipal Economic <br />Development Act of 1965, as amended; and <br />