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RESOLUTION NO. l /D3 19 <br />RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF <br />SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO <br />SUBMIT AN APPLICATION TO THE INDIANA DEPARTMENT OF <br />COMMERCE FOR THE STATE INVESTMENT INCENTIVE <br />PROGRAM. (MILES LABORATORY INC.) <br />WHEREAS, the City of South Bend, Indiana, is dedicated to <br />pursuing economic development through promoting growth of <br />businesses which stimulate the local economy and thereby benefit <br />the people of South Bend as a whole; and <br />WHEREAS, Miles Laboratory Inc. project will benefit the <br />local economy specifically by adding 130 new jobs to the area, and <br />by generating new taxes on improvements to real and personal <br />property; and <br />WHEREAS, Miles Laboratory Inc. will be locating its <br />recently acquired St. Louis operation in South Bend, and fits into <br />the overall development concept as it will contribute to the <br />restoration and diversification of our industrial base; and <br />WHEREAS, the Miles Laboratory Inc. will require various <br />Machinery and Equipment costing $1,800,000; real property costing <br />$1,000,000 and relocation cost of $1,000,000. The receipt of an <br />Investment.Incentive Grant will enable the City of South Bend to <br />assist in the financing with a $150,000 loan and a $150,000 grant <br />from the Business Development Corporation. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of <br />the City of South Bend, Indiana, as follows: <br />SECTION I. The Council Hereby establishes the authority of <br />the Mayor of the City of South Bend to submit a State Industrial <br />Development Grant application to the Indiana Department of Commerce <br />for the Miles Laboratory Inc. <br />SECTION II. This Resolution shall be in full force and <br />effect immediately upon passage by the Common Council of the City <br />of South Bend, Indiana, and approval by the Mayor. <br />PRESENTED d 0 9 <br />NOT APPROVED <br />nv:: PSED a - <br />the C-0-mmo/ro <br />FEB 9 1989 <br />As4i.Y�FE.._ �e'5� pInvU <br />