HomeMy WebLinkAboutFinding and adjudging the financing of facilities for Gates Realth, Inc.RESOLUTION
No. 445 -74
Passed by the Common Council of the City of South Bend, Indiana,
OCTOBER 14,
19 74
Attest: 4� l ' - / City Clerk
President of Common Council.
Attest: es c
Presented by me to the Mayor of the City of South Bend, Indiana
OCTOBER 15, 19 74
City Clerk
Approved and signed by me ,/ /.? 197110-1
RESOLUTION NO. A-1 /-/ 5 - '7 y
A RESOLUTION FINDING AND ADJUDGING THAT THE FINANCING
OF FACILITIES FOR GATES REALTY, INCORPORATED BY THE
ISSUANCE BY THE CITY OF SOUTH BEND, INDIANA, OF ITS
ECONOMIC DEVELOPMENT REVENUE BONDS PERTAINING TO SUCH
FACILITIES FOR SUCH ENTITY WILL BE OF BENEFIT TO THE
HEALTH OR WELFARE OF THIS MUNICIPALITY, AND APPROVING
THE FINANCING THEREFOR.
WHEREAS, the Common Council of the City of South
Bend, Indiana, heretofore has created the South Bend Development
Commission, hereinafter referred to as "Commission ", pursuant to
the provisions of the Municipal Economic Development Act of 1965,
as amended, supplemented or added to, including but not limited
to the amendments, supplements or additions of IC -1973, 18- 6 -4.5,
or any other amendments, supplements or additions thereto, here-
inafter referred to as the "Act "; and
WHEREAS, Gates Realty, Incorporated has filed an appli-
cation with the Commission to finance the acquisition of real
estate and the construction thereon of an industrial and commercial
building (facilities) which will constitute economic development
facilities resulting in a substantial number of new jobs as well
as other benefits; and
WHEREAS, in connection therewith the Commission has
prepared and placed on file a report containing the subject
matter as specified in Section 16 of IC -1973, 18 -6 -4.5 and has
forwarded copies thereof to the Chairman of the Area Plan Commis-
sion and to the Superintendent of the School Corporation in the
area of which the facilities will be located, and has timely
received favorable reports from each of them; and
WHEREAS, the Commission held a public hearing on the
proposed financing of such facilities on 1974, after
giving the required notice as provided for in Section 17 of
IC -1973, 18- 6 -4.5; and
WHEREAS, the Commission at such meeting by a duly
adopted written resolution, incorporated herein by reference,
found that the proposed financing complies with the purposes
and provisions of the Act, and approved such financing,
including but not limited to, the forms and terms of the
financing agreement consisting of the Lease and Trust Indenture
and the Bonds; and
WHEREAS, this Common Council of the City of South
Bend, Indiana, now finds that the proposed financing of such
facilities for Gates Realty, Incorporated will be of benefit to
the health or welfare of the City of South Bend, Indiana, and
that, accordingly, this resolution should be adopted.
NOW, THEREFORE, BE IT RESOLVED by the Common Council
of the City of South Bend, Indiana, that:
Section 1. Such financing for Gates Realty, Incorporated
under the Act be and the same is hereby approved.
Section 2. This resolution shall be in full force and
effect from and after its passage by the Common Council and
approval by the Mayor.
Presented b
Y
Councilman
Passed and adopted by the Common Council of the City
of South Bend, Indiana, on the /,41�4 day of 1974.
Attest:
- Z
�X
r-.
President of Council FILED IN CLERK'S OFFICE
SEP 3 0 1974
City Clerk Irene Gammon
CHY CLERK, SOUTH BEND, IND,
Presented by me to the Mayor of the City of South Bend,
Indiana, on the /S day of U .r 1974, at the hour of
ea )0.M. /✓
City Clerk
This resolution approved and signed by me on the /$
day of (�,, , 1974, at t
Attest:
City Clerk
rrtCJCIV1W / () - / </ - -/ 'f
NOT APPROVED
ADOPTED 0 `�