Relating to Applications by South Bend Orthopedic Associates Inc. and Tripods Partnership for Issuance of Revenue Bonds

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BARNES a THORNBURG 1313 MERCHANTS BANK BUILDING 600 1ST SOURCE BANK CENTER FEDERAL BAR BUILDING II SOUTH MERIDIAN STREET 100 NORTH MICHIGAN IBIS H STREET,N.W. WASHINGTON D C.20006 INDIANAPOLIS, INDIANA 46204 . 13171638-1313 SOUTH BEND, INDIANA 46601 12021955-4500 1219) 233-1171 305 FIRST NATIONAL BANK BUILDING 301 SOUTH MAIN STREET ELKHART,INDIANA 46516 TWX 810-341-3427 B&T LAW IND 12191 293-0681 TELECOPIER 1219) 237-1125 TO CALL WRITER BY HAND DELIVERY September 17, 1986 Mrs . Irene K. Gammon Office of the City Clerk Fourth Floor County-City Building South Bend, Indiana 46601 Re: Inducement Resolution and Ordinances for Economic Development Revenue Bond Financing for South Bend Orthopedic Associates, Inc. and Tripods Partnership Dear Mrs . Gammon: Enclosed are proposed forms of an inducement resolution and bond ordinances to authorized the issuance of economic development revenue bonds for South Bend Orthopedic Associates, Inc. and Tripods Partnership. We ask that the inducement resolution be presented at the Council meeting on Monday, September 22, with the ordinances also presented for first reading at that meeting. We ask that the ordinances be placed on the agenda for passage at the Council ' s October 13 meeting. An inducement resolution for these projects is being presented to the Economic Development Commission on Friday, September 19, with a public hearing before the Economic Development Commission scheduled for October 3 . In December of 1985, the City of South Bend issued two bonds to finance construction and equipping of the new medical office facility on the east bank of the St . Joseph River along the south side of LaSalle Street. The building is owned by Tripods Partnership, and the 1985 bond issue for the partner- ship to finance construction was in the amount of $1,300, 000. The 1985 bond issue for South Bend Orthopedic Associates, Inc. , which will be the tenant in the building, was in principal amount of $100, 000, with the proceeds to be used to finance equipment.