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southwest corner <br />Michigan and Wayne <br />ORDINANCE NO. 5411 -72 <br />AN ORDINANCE AUTHORIZING THE EXECUTION OF A <br />LEASE AND TRUST INDENTURE AND THE ISSUANCE OF <br />ECONOMIC DEVELOPMENT REVENUE BONDS PERTAINING <br />TO FIRST BANK AND TRUST COMPANY OF SOUTH BEND <br />TRUSTEE FOR LAND TRUST NO. 29 -5094 <br />WHEREAS, the Common Council of the City of South Bend, Indiana, hereto- <br />fore has created the South Bend Economic Development Commission pursuant to the <br />provisions of the Municipal Economic Development Act of 1965, as amended, and, <br />WHEREAS, the South Bend Economic Development Commission has approved <br />this form of ordinance authorizing the execution of a Lease and Trust Indenture and <br />the issuance of economic development revenue bonds in accordance therewith, and <br />WHEREAS, the South Bene Economic Development Commission has transmitted <br />this form of ordinance to the City Clerk of South Bend, Indiana, for presentation to <br />the Common Council of South Bend, Indiana, and <br />WHEREAS, the City Clerk of South Bend, Indiana, has published once in a <br />newspaper published in South Bend, Indiana, a notice that such form or ordinance <br />has been filed with the Clerk in accordance with the provisions of said Municipal <br />Economic Development Act of 1965, as amended, and <br />WHEREAS, the Common Council of South Bend, Indiana, finds that the <br />proposed development will be of public benefit to the economic welfare of the City <br />of South Bend, Indiana, by tending to overcome the deficiencies previously found <br />to exist and that such benefit is greater than the cost of the public facilities which <br />would be required by the proposed project relating to First Bank and Trust Company <br />of South Bend, Trustee for Land Trust No. 29 -5094. <br />NOW THEREFORE, BE IT ORDAINED By the Common Council of the City of <br />South Bend, Indiana, that: <br />Section 1. The form and terms of the Lease and Trust Indenture pretaining <br />to the First Bank and Trust Company of South Bend, Trustee for Land Trust No. 29 -5094 <br />facilities and the issuance of the economic development revenue bond pursuant thereto <br />are hereby approved. <br />