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HomeMy WebLinkAboutInducement Resolution relating to Marion W. DunnRESOLUTION NO. 766 -80 Passed by the Common Council of the City of South Bend, Indiana, March 24, I9-8Q_. f Attest: -,' •�"' _`w Attest:- 1� - (lq C� Clerk President of Common Council. Presented by me to the Mayor of the City of South Bend, Indiana March 25, 19 80 City Clerk Approved and signed by me / ! Q,4_�,, A ( 19 &0. r. Mayor RESOLUTION NO. j',:, INDUCEMENT RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA RELATING TO MARION W. DUNN WHEREAS, pursuant to I.C. 18- 6 -4.5, the Common Council of the City of South Bend, Indiana created the South Bend Economic De- velopment Commission, which Commission, following an investigation and survey, has determined that need exists in the community for additional job opportunities and commercial and industrial diversifi- cation. That in order to improve and promote job opportunties, commercial diversification and the general welfare of the community, certain contractual agreements should be entered into with Marion W. Dunn relating to his acquisition, remodeling and purchase of equipment for an economic development facility located at the southeast corner of Jefferson Boulevard and Williams Street in the City of South Bend, Indiana; and WHEREAS, the economic welfare of the City would be benefited by the acquisition and remodeling of economic development facilities pursuant to the provisions of Indiana Code 18 -6 -4.5 (the "Act "); and WHEREAS, Marion W. Dunn, a resident of St. Joseph County, Indiana ( "Dunn ") purposes to acquire and remodel economic development facilities as defined in the Act for the use of Telephone Answering Service, Inc. and Dial -A -Page, Inc. ( "User ") if the City will finance costs of such economic development facilities pursuant to the Act and it is apparent that the development of this project will increase job opportunities and commercial diversification in the City of South Bend, Indiana, resulting in benefit to the welfare of the public in the City of South Bend and St. Joseph County, Indiana; and WHEREAS, to induce Dunn to develop this project and User I to become the principal users thereof, the South Bend Common Council (desires to adopt this resolution. NOW, THEREFORE, the Common Council of the City of South Bend, (Indiana resolves as follows: 1. Approval is hereby given to the application of Dunn re- lating to the acquisition of such economic development facilities, the remodeling of certain of those facilities and the installment of other such facilities wherein Industrial Revenue Bonds would be issued by the City of South Bend, Indiana for an amount not exceeding Three Hundred Thousand Dollars (:300,000.00), payable with interest thereon at the rate of nine and three - quarters percent (9 -3/4 %) per annum, over a term of twenty (20) years from and after the economic develop- ment facilities are all placed in use by the principal users thereof. 2. In order to encourage, induce and solicit such appli- cation by Dunn for such Industrial Revenue Bond issue relating to its acquisition of such Economic Development Facilities and the remodeling of certain of those facilities, the South Bend Common Council shall proceed to cooperate with and take such action as may be necessary in the drafting of documents or the performance of such other acts as will facilitate the issuance of such Industrial Revenue Bonds by the City of South Bend, Indiana, to provide funds to be used toward the payment of the costs of acquisition, remodeling and purchase of equip- ment for an economic development facility. 3. Any costs or expenses incurred in connection with the said Dunn project shall be included in the project costs and reim- bursed from the proceeds of the Industrial Revenue Bonds to be issued with respect thereto. 4. That the liability and obligation of the Common Council of the City of South Bend and the City of South Bend, Indiana, shall be limited solely to good faith efforts to consummate such pro- ceedings and issue such bonds, and neither the South Bend Common (Council nor the City of South Bend, Indiana, or its officers or agents, shall incur any liability whatsoever if for any reason the proposed issuance of such bonds is not consummated. 5. Dunn may proceed with the acquisition of the economic development facilities and with the remodeling of one of such facili- ties in reliance upon this resolution. 6. This resolution shall be in full force and effect from and after its passage by the Common Council of the City of South Bend and approval by the Mayor. PRESENTEES 3-�� �� i'dember of the Common Council NOT APPROVER ADOPTED .7- Q %/— f i -2- THORNBURG, MCGILL, DEAHL, HARMAN, CAREY & MURRAY ATTORNEYS AT LAW F. THORNBURG FRANKLIN A. MORSE 11 ,JAMES WARREN E. MCGILL STEPHEN A. SHALL SIXTH FLOOR, FIRST BANK BUILDING WARREN A. DEAHL GORDON S. ESLICK SOUTH BEND, INDIANA 46601 JOHN L. CAREY RICHARD E. STEINBRONN THOMAS L. MURRAY FREDERICK F. THORNBURG TELEPHONE (219) 233 -1171 305 FIRST NATIONAL BANK BUILDING WILLIAM J. REINKE JOHN A. BURGESS CABLE ADDRESS °THORNGILDE' ELKHART, INDIANA 46514 ED WARD J. GRAY R. MICHAEL PARKER 219 293 -0681 .JOHN R. HARMAN NELSON J. VOGEL, JR. RICHARD M. TRECKELO ROGER W. BENKO 1200 EIGHTEENTH STREET, N. W. DANIEL W. RUDY DAVID R. MELTON WASHINGTON, D. C. 20036 C. DUNPEE, JR. BRIAN J. LAKE ,JACK BRUCE R. BANCROFT RICHARD W. MORGAN 202 331 -8585 JOHN T. MULVIHILL SAMUEL S. THOMPSON DAVID A. HAIST JAMES R. BYRON JERRY T. GORMAN RICHARD B. URDA, JR. JAMES E. McMAHON March 19, 1980 J. ROBERT STOLL ERNEST J. SZARWARK LAWRENCE C. DINARDO PAUL E. BECHER LISA A. WEILAND THOMAS L. SCHOAP Mrs. Irene K. Gammon City Clerk City of South Bend County -City Building South Bend, Indiana 46601 Re: Proposed Resolutuion for Marion W. Dunn Dear Mrs. Gammon: I enclose with this letter the original and three copies of a proposed inducement resolution which we request be placed upon the agenda of the South Bend Common Council for its meeting on Monday, March 24, for consideration and passage that evening. I will be present at the Common Council meeting to present this resolution and answer any questions the Council may have concerning it. Thank you for this and past courtesies. Sincerely yours, THORNBURG, McGILL, DEAHL, HA�MAN, CAREY & MURRAY 1 Bruce R. Bancroft BRB:mlh Enclosure