HomeMy WebLinkAboutFinding and adjudging the financing of facilities for Industrial Packaging Corporation RESOLUTION
No. 421-74
Passed by the Common Council of the City of South Bend, Indiana,
MAY 28, 1974
Attest: City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
MAY 29, 1974
City Clerk
Approved and signed by me /�3i�-�' d c" 197
Qw- Mayor
RESOLUTION NO. y,2 /- 41
A RESOLUTION FINDING AND ADJUDGING THAT THE FINANCING
OF FACILITIES FOR INDUSTRIAL PACKAGING CORPORATION
BY THE ISSUANCE BY THE CITY OF SOUTH BEND, INDIANA,
OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS PERTAINING
TO SUCH FACILITIES FOR SUCH ENTITY WILL BE OF BENEFIT
TO THE HEALTH OF 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 Public Law No. 182 of the Acts of the General Assembly of
Indiana for 1973, as such may be amended from time to time, including
but not limited to IC 18-6-4 . 5-2 through IC 18-6-4 . 5-28 , hereinafter
referred to as the "Act" ; and
WHEREAS, Industrial Packaging Corporation has filed an
application with the Commission to finance the construction 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 pre-
pared 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 Commission 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 pro-
posed financing of such facilities on May 3rd, 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 Industrial Packaging Corporation 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 Industrial Packaging Corporation
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 by
Councilman
Passed and adopted by the Common Council of the City of
South Bend, Indiana, on the ?8 day of 9-y1 a, 1974 .
Tbk�� a Ml�
--1 010
President of C 9h ci.l
ATTEST:
i
City Clerk
Presented by me to the Mayor of the City of South Bend,
Indiana, on the aR t4 day of 24 T 1974 , at the hour of -1.,o6 PM.
City Clerk
This resolution approved and signed by me on the
day of ���? 1974 , a the hour of �;,�o�.M.
a or
ATTEST:
'a"" FILED IN CLERK'S OFFICE
City Clerk
MAY 14 1974
PRESENTED s-o g-.-) d4 Irene Gammon
NOT APPROVED CITY CLERK, SOUTH BEND, IND,
ADOPTED