HomeMy WebLinkAboutFinding and adjudging the financing facilities for Great Northern Distributors, Inc. RESOLUTION
No. 377-73
Passed by the Common Council of the City of South Bend, Indiana,
JULY 23 , 19 73
Attest: 4�,-"-Q- - City Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
JULY 24, 19 73
City Clerk
Approved and signed by me 19-.
Mayor
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RESOLUTION NO. 0 '7 '7- '73
A RESOLUTION FINDING AND ADJUDGING THAT THE FINANCING OF
FACILITIES FOR GREAT NORTHERN DISTRIBUTORS, INC. 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 Economic 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 by IC-1971, 18-6-4 as amended,
supplemented or added to by IC-1973, 18-6-4.5, or any other amend-
ments, supplements or additions thereto, hereinafter referred to as
the "Act";
WHEREAS, Great Northern Distributors, Inc. has filed an
application with the Commission to finance the acquisition of real
estate and the construction thereon of a warehouse (facilities)
which will constitute economic development facilities resulting in
a substantial number of new jobs as well as other benefits;
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;
WHEREAS, the Commission held a public hearing on the pro-
posed financing of such facilities as of July 6 , 1973 after giving
the required notice as provided for in Section 17 of IC-1973, 18-6-4. 5;
1
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 Great Northern Distributors, Inc. 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 Great Northern Distributors,
Inc. 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.
A 3Fember of th South end
Common Counci
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FILED IN CLERK'S OFFICE
- 2 - juL 91973
Irene Gammon
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PRESENTED `7- d?�- '�3 CITY, CLERK, SOUTH BEND; INN
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NOT APPROVED
ADOPTED
-7 - a3- '73