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HomeMy WebLinkAboutIndustrial Development Revenue Bonds - V. Robert HeplerPassed by the Common Council of the City of South Bend, Indiana_ March 26, _„ 79 City Clerk IRENE K. GAMMON Attest: of Common Council Presented by me to the Mayor of the City of South Bend, Indiana March 27, 79 City Clerk IRENE K. GAMMON Approved and signed by me I ", ORDINANCE AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE MORTGAGE AND TRUST INDENTURE AND INTJTT.G'VPTAT_ nVTrM� _,.,.,-.__. _ +..r». U11%.!1'4 - _L- nBtKE0 ` PERTAINING- TO' V. ROBERT HEPLER 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 V. ROBERT HEPLER 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 February 16, 1979, 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 V. ROBERT HEPLER 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 tYB City of South Bend, Indiana and shall be kept on file by the C Indiana. ity Clerk of South Bend, 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 V. ROBERT HEPLER facilities may be issued in amounts not to exceed Two Hundred Ninety Thousand ($290,000.00) Dollars for a period not to exceed twenty (20) in accordance with Indenture and that City Of South Bend Bend, Indiana, and said City. years after the first monthly installment due thereon, the terms of said Lease, Mortgage and Trust such Bonds shall be executed on behalf of the Indiana, by the Mayor and City Clerk of South shall be sealed with the corporate seal of 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. MBER OF P 'A Ist READING Z —? 9 EUK PUBLIC HEARINCI 2nd READING NOT APPROVELI), IVIA) 1979 REFERRED,'; PASSED Irene n M WRK SOUTH BENI), IND. -2- VOOR, MCMICHAEL, ALLEN, FEDDER 8 HERENDEEN GUY H. M<MtCHA WILLIAM ICHA ATTORNEYS COUNSELORS AT LAW ORNEYS 8 COEL AREA CODE 219 LLOYD M. ALLEN 300 FIRST BANK BUILDING 234 -6061 KENNETH P. FEEDER GEORGE E. HERENDEEN SOUTH BEND, INDIANA 46601 MICHAEL P. BARNES OF CONSEL: JOHN B. RAMMING March 7, 1979 WILLIAM OUJACKSON ANTHONY D. KOWALS BRIAN J. MAY Members of the South Bend Common Council County -City Building South Bend, Indiana 46601 RE: Revenue Bond Application V. ROBERT HEPLER Dear Gentlemen: Application of a Revenue Bond issue for Two Hundred Ninety Thousand ($290,000.00) Dollars for and on behalf of V. ROBERT HEPLER for the acquisition of real estate and the construction of an industrial and commercial building (facilities) at the intersection of Olive and Washington Streets, in South Bend, Indiana. The economic development facility will initially employ approximately ten people, with an estimated payroll of approximately $150,000.00. It is properly zoned and will be a continuation of a business in our South Bend area on an expansion basis. KPF /mb Respectfully, ATTORNEY FOR THE ECONOMIC DEVELOPMENT COMMISSION u 4, UP MA ;7� 1979 iren 100 CLERK, S06fli BEND, IND.