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Home My WebLink AboutIndustrial Development Revenue Bonds - Marlin Development & Imagineering Enterprises�J 6553 -79 Passed by the Common Council of the City of South Bend, Indiana February 26 Yq 79 IRENE K. GAMMON Presented by me to the Mayor of the City of South Bend, Indiana FPhrn^ ry 7 �9�� Approved and signed by me gLJA • Q..' R a Clerk Of Common Council IRENE K. GAMMON Clerk ORDINANCE NO. [0SS3-2!J__ AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE, MORTGAGE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO MARLIN DEVELOPMENT CO., AN INDIANA PARTNERSHIP AND IMAGINEERING ENTERPRISES, INC., AN INDIANA CORPORATION STATEMENT OF PURPOSE OF INTENT: 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 provi- sions 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 MARLIN DEVELOPMENT CO., AN INDIANA PARTNERSHIP AND IMAGINEERING ENTERPRISES, INC., AN INDIANA CORPORATION has filed an application with the Commission to finance the acquisition of real estate and the construction thereof 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 in connection therewith the Commission has prepared and placed on file a report containing the subject matter as specified in Section 16 of IC 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 the Commission held a public hearing on the proposed financing of such facilities on October 20, 1978, after giving the required notice as provided for in Section 17 of IC 18 -6 -4.5 and did find that the proposed financing complies with the purposes and provisions of the applicable Indiana statutes governing the issuance of Industrial Development Revenue Bonds by the Commission and the Commission finds that the proposed facility will not have an adverse competitive effect on similar facilities already constructed and operating in the City of South Bend, Indiana; and NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, that: Section 1. The form and terms of the Lease, Mortgage and Trust Indenture and Industrial Development Revenue Bonds pertaining to MARLIN DEVELOPMENT CO., AN INDIANA PARTNERSHIP AND IMAGINEERING ENTERPRISES, INC., AN INDIANA CORPORATION facilities and the issuance of the Industrial Development Revenue Bond pursuant thereto are hereby approved and adopted. Section 2. Said forms of Lease, Mortgage and Trust Indenture together with Industrial Development Revenue Bonds which are on file with the Commission are hereby incorporated by reference into this Ordinance, and said forms shall be inserted into the minutes of the Common Council of the City of South Bend, Indiana and shall be kept on file by the City Clerk of South Bend, Indiana. Section 3. The Lease, Mortgage and Trust Indenture shall be executed on behalf of the City of South Bend, Indiana by the Mayor and City Clerk and sealed with the corporate seal of such City. Section 4. Said Industrial Development Revenue Bonds, payable solely and only from the revenue derived from such MARLIN DEVELOPMENT CO., AN INDIANA PARTNERSHIP, AND IMAGINEERING ENTER- PRISES, INC., AN INDIANA CORPORATION facilities may be issued in amounts not to exceed One Hundred Thousand ($100,000.00) Dollars for a period not to exceed twenty (20) years after the first monthly installment due thereon, in accordance with the terms of said Lease, Mortgage and Trust Indenture and that such Bonds shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and City Clerk of South Bend, Indiana, and shall be sealed with the corporate seal of such City. Section 5. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approved by the Mayor. kt READiNGs PUBLIC HEA "10 2nd READING ` �G • � �' ;ACT APPROYE6+ V? `0760 ' i 5; REFERRED PASSED —2— Membe�fe LINVOT.1 v CITY CLEPh, Vadat! uEi air lie . TRANSMITTAL OF ADOPTED COMMISSION RESOLUTION AND PROPOSED ORDINANCE FOR ADOPTION BY THE SOUTH BEND COMMON COUNCIL AND APPROVAL BY THE MAYOR PERTAINING TO THE FINANCING OF FACILITIES FOR MARLIN DEVELOPMENT CO., AN INDIANA PARTNER - SHIP, AND IMAGINEERING ENTERPRISES, INC., AN INDIANA CORPORATION BY THE ISSUANCE BY THE CITY OF SOUTH BEND, INDIANA, OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS TO: Irene K. Gammon City Clerk City of South Bend County -City Building South Bend, Indiana 46601 The South Bend Economic Development Commission (Commission) hereby transmits to you in accordance with 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 ": 1. A resolution adopted by the Commission as of oo!3 < ®ey�'� 1978, as called for by the Act; 2. Proposed ordinance for adoption by the Common Council of the City of South Bend, Indiana, as called for by the Act. You will note from a perusal of the body of these documents the purpose thereof is to finance the acquisition of land and erect improvements thereon for MARLIN DEVELOPMENT CO., AN INDIANA PARTNERSHIP AND IMAGINEERING ENTERPRISES, INC., AN INDIANA CORPORA- TION, by the execution of a Lease, Mortgage and Trust Indenture and the issuance of Industrial Development Revenue Bonds in a total amount not to exceed $100,000.00 repayable over a period not to exceed 20 years' duration. With respect to the ordinance, you are respectfully asked to publish once in a newspaper in South Bend, Indiana, a notice that such proposed ordinance has been filed with you and present such ordinance to the Common Council of South Bend, Indiana, for passage not earlier than ten (10) days from the date of the publication of such notice. Submitted this day of 1979. SOUTH BEND ECONOMIC L� LOPMENT COMMISSION �� I BY: FE l t ,�!e2 BY: rY: ,. BY: