Amendment of Inducement Resolution: Automatic Molded Plastics, Inc. and Aquarius Plastic Finishers, Inc.

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of the building addition and equipment by only Automatic Molded Plastics, Inc. satisfies the qualifications and declarations of Resolution No. 1338-85, and that Resolution should be amended. NOW, THEREFORE, the Common Council moves as follows: 1. Resolution No. 1338-85 is amended, nunc pro tunc, eliminating all reference to Aquarius Plastic Finishers , Inc. and further amended so that the following language : "WHEREAS, Automatic Molded Plastics , Inc. and Aquarius Plastic Finishers, Inc. desire to acquire certain economic development facilities in South Bend, Indiana, provided that the City will finance a por- tion of the costs of such facilities, pursuant to the Act, which facilities will constitute economic develop- ment facilities, as defined in the Act; and WHEREAS , The South Bend Economic Development Com- mission has received an application by Automatic Molded Plastics, Inc. and Aquarius Plastic Finishers, Inc. for the issuance of City of South Bend Economic Development Revenue Bonds in the total amount of Three Million and No/100 Dollars ($3, 000, 000. 00) , with One Million Nine Hundred Forty-five Thousand and No/100 Dollars ($1, 945, 000. 00) , for Automatic Molded Plastics , Inc. and One Million Fifty-five Thousand and No/100 Dollars ($1, 055,000. 00) for Aquarius Plastic Finishers, Inc. , for the following economic development facilities , ("Project") : A. Automatic Molded Plastics, Inc. will acquire : One (1) building addition consisting of an additional 20 ,000 square feet which would bring the building to a total of 107 , 000 square feet Six (6) 200 ton molding machines Two (2) 300 ton molding machines Two (2) 400 ton molding machines. B. Aquarius Plastic Finishers, Inc. will acquire: Two (2) 1, 200 ton injection molding machines One (1) 700 ton injection molding machine resulting in the addition, over a 5 to 7 year range, of one hundred (100) new jobs at Automatic Molded Plastics, Inc. and one hundred (100) new jobs at Aquarius Plastic Finishers, Inc. , with seventy-five (75) jobs being saved at Automatic Molded Plastics, Inc. There is an antici- pated increased payroll of One Million Four Hundred Thou- sand and No/100 Dollars ($1,400 ,000. 00) for Automatic Molded Plastics, Inc. and One Million Three Hundred Thou- sand and No/100 Dollars ($1,300,000 . 00) for Aquarius 2.