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HomeMy WebLinkAboutThe matter of American Chain and Cable Company, Inc. l RESOLUTION No. 422-74 Passed by the Common Council of the City of South Bend, Indiana, MAY 2 8 , 19 74 Attest: City Clerk Attest: President of Common Council. Presented by me to the Mayor of the City of South Bend, Indiana MAY 29, 19 74 4-'e� City Clerk v-• Approved and signed by me //' 19� Mayor RESOLUTION NO. 'J A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER OF AMERICAN CHAIN AND CABLE COMPANY, INC. OF SOUTH BEND, INDIANA WHEREAS, the South Bend Development Commission has developed and filed with the Area Planning Commission of St. Joseph County and also with the South Bend Community School Corporation, being the school corporation with jurisdiction in the area, a "Report of City of South Bend Economic Development Commission Making Certain Estimates" , said Report being with re- spect to the financing of certain economic development facilities for American Chain & Cable Company, Inc. at 1217 Walnut Street, South Bend, Indiana; and WHEREAS, the Area Planning Commission and the South Bend Community School Corporation have each filed written comments concerning said proposed plan and approving the same; and WHEREAS, the South Bend Development Commission has by resolution passed on May 17 , 1974 approved the form of the doc- uments representing the financing, those being the Lease Agreement Mortgage and Indenture of Trust, Guaranty Agreement, Underwriting Agreement and Preliminary Official Statement, in their then present form and subject to approval in their final form by the Develop- ment Commission and the Common Council of the City of South Bend, said resolution and form of prelininary official statement having been presented to the Common Council; and WHEREAS, the Underwriter, Goldman, Sachs & Co. , and the Company American Chain & Cable Company, Inc. desire to pre- market the bonds in order to establish the interest rates , Maturities and redemption features for the bonds and were so authorized to do so by the South Bend Development Commission r by authorizing the distribution of the preliminary official statement; NOW, THEREFORE, BI IT RESOLVED by the Common Council of the City of South Bend, Indiana, that: 1. The action of the South Bend Development Commission in authorizing the distribution of the preliminary official state- ment for purposes of premarketing the bonds is hereby ratified and approved. 2 . The financing of industrial facilities by the issuance and sale of revenue bonds of the City of South Bend, and the lease of the industrial facilities to American Chain & Cable Company, Inc. as tentatively approved by the South Bend Development Commission in its resolution of May 17, 1974 will be of benefit to the health and welfare of the City of South Bend. 3. This resolution shall be in full force and effect from and after its passage and signing by the Mayor. C rftmhe Adopted by the Common Council City of South Bend, Indiana, on this 28th day of May, 1974. President : f Counrsil Presented by me to the Mayor of the City of South Bend, Indiana, this ?c/ '_ day of May, 1974 . City Clerk This resolution approved and signed by me this r`3 i day of 1974 . a o Attest: �� � FILED IN CLERK'S OFFICE City Clerk MAY 2 21974 PRESENTED 5--a P_ '? `f NOT APPROVED Irene Gammon CITY CLERK, SOUTH BEND, JND, U ADOPTED ;