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Authorizing City to issue Variable Rate Demand Economic Development Revenue Bonds
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Authorizing City to issue Variable Rate Demand Economic Development Revenue Bonds
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Last modified
5/15/2009 2:13:11 PM
Creation date
11/7/2008 3:13:10 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
7/24/2000
Ord-Res Number
9119-00
Bill Number
55-00
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ORDINANCE NO. ~ l I 1 ~ O <br />ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND TO <br />ISSUE ITS "VARIABLE RATE DEMAND ECONOMIC DEVELOPMENT <br />REVENUE BONDS (COLBERT PACKAGING CORPORATION PROJECT), SERIES 2000" <br />AND APPROVING OTHER ACTIONS IN RESPECT THERETO <br />(3620 WEST MCGILL STREET, SOUTH BEND, INDIANA) <br />WHEREAS, the South Bend Economic Development Commission has rendered its Project <br />Report regarding the financing of proposed economic development facilities for Colbert Packaging <br />Associates, LLC to the South Bend Plan Commission; and <br />WHEREAS, the South Bend Economic Development Commission conducted a public <br />hearing on July 21, 2000 before the Commission, and adopted a Resolution on July 21, 2000, which <br />Resolution has been transmitted hereto, finding that the financing of certain economic development <br />facilities for Colbert Packaging Associates, LLC complies with the purposes and provisions of I.C. <br />36-7-11.9 and 12 and that such financing will be of benefit to the health and welfare of the City of <br />South Bend and its citizens; and <br />WHEREAS, the South Bend Economic Development Commission has heretofore approved <br />and recommended the adoption of this form of Ordinance by this Common Council, has considered <br />the issue of adverse competitive effect and has approved the forms of and has transmitted for <br />approval by the Common Council the Lease; the Loan Agreement; the Promissory Note; the Bond <br />Purchase Agreement; the Trust Indenture; and the Preliminary Offering Memorandum; now, <br />therefore <br />BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA THAT: <br />650745.3 <br />
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