Laserfiche WebLink
RESOLUTION NO. Ihf-8S <br /> INDUCEMENT RESOLUTION <br /> OF <br /> THE CITY OF SOUTH BEND, INDIANA <br /> Relating to : Thomas W. Mittler, d/b/a T.A.N.K.S. , Project <br /> WHEREAS, at the present time there are insufficient <br /> employment opportunities and insufficient diversification of <br /> business, commerce and industry in and near the City of South <br /> Bend, Indiana (the "City" ) ; and <br /> WHEREAS, the economic welfare of the City would be <br /> benefited by the acquisition and construction of economic <br /> development facilities in the corporate limits of the City pur- <br /> suant to the provisions of Indiana Code 36-7-12 (the "Act" ) ; and <br /> WHEREAS, Thomas W. Mittler, d/b/a T.A.N.K. S. , an Indi- <br /> ana resident, proposes to acquire economic development facili- <br /> ties in South Bend, Indiana as defined in the Act if the City <br /> will finance costs of such economic development facilities <br /> pursuant to the Act; and <br /> WHEREAS, the South Bend Economic Development Commis- <br /> sion has received an application by Thomas W. Mittler, d/b/a <br /> T.A.N.K. S. , for the issuance of City of South Bend Industrial <br /> Development Revenue Bonds in the approximate principal amount <br /> of One Million Two Hundred Fifty Thousand and no/100 Dollars <br /> ($1 ,250 , 000 . 00) , to be repaid at 70% of the National Prime Rate <br /> rounded off to the nearest quarter point, with the proceeds of <br /> the bonds being used to acquire economic development facilities <br /> to be based and located in South Bend, Indiana, which will <br />