Inducement Resolution Relating to: X-Ray Equipment, Inc. Project

Home Browse Search

INDUCEMENT RESOLUTION OF INDIANA THE OF SOUTH Equipm nt, Inc. Project Relating to: ere are insufficient em- WHEREAS, at the present time th I insufficient diversification of business., ployment opportunities and of South Bend, Indiana commerce and industry in and near the City (the "City "); and City would be bene- the economic welfare of the WHEREAS, ment facilities in the ' ed by the acquisition of economic develop the "Act "); fit 6 -4.5 City pursu ant to the provisions of Indiana Code 18- an Inc., an Indiana corporation WHEREAS, X -RaY Equipment, to acquire economic development facili- ( "X -Ray Equipment ") proposes Act if the City . located in the City as defined in the t ties to facilities pursuan be will finance costs of such economic development to the Act; and Development Commission wnEREAS, the South Bend Economic D nt for the issuance of ' o n b X -Ray Equipme has received an applicati Y ic Development Bonds in an amount not to City of South Bend Econom sand and no /100 Dollars ($800,000.0o) re- exceed Eight ht Hundred Thou an eight ereon at a ht (8) year period with interest payable over d on tax - exempt e consistent with interest rates generally pal rat purchase equip- bonds the time the bonds are issued in order to professional cor- bonds a an Indiana pr Inc., ment to be leased to RadiologY,ase of approximately seven (7) add: poration, resulting in an increase principal user with an increased annual tional employees by th e P 100 Dollars dred Thousand payroll of approximately One Hun and no/ ($100,000.00) Per year. of Soutl NOW, THEREFORE. the Common Council of the City Bend, Indiana resolves as follows: