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HomeMy WebLinkAboutApproving Industrial Development Revenue Bonds Harvey E Deacon & Helen DeaconPassed by the Common Council of the City of South Bend, Indiana _ August 14 rq 78 City Clerk IRENE K. GAMMON President of Common Council Presented by me to the Mayor of the City of South Bend, Ind*ana August 15 �o 78 IRENE K. GAMMON Approved and signed by me \Uj'—% 6e% : Clerk ORDINANCE NO. (v942(,--)& AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO HARVEY E. DEACON AND HELEN DEACON. 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 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 HARVEY E. DEACON AND HELEN DEACON, have 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 July 21, 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 and Trust Indenture and Industrial Development Revenue Bonds pertaining to HARVEY E. DEACON AND HELEN DEACON, facilities and the issuance of the Industrial Development Revenue Bond pursuant thereto are hereby approved and adopted. Section 2. Said forms of Lease 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 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 HARVEY E. DEACON AND HELEN DEACON facilities, may be issued in amounts not to exceed $170,000.00, for a period not exceeding fifteen (15) years after the in accordance with the terms and that such Bonds shall be South Bend, Indiana, by the Indiana, and shall be sealed City. first monthly installment due thereon, of said Lease and Trust Indenture executed on behalf of the City of Mayor and City Clerk of South Bend, with the corporate seal of said 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. MEMBER OF THE COMMON COUNCIL FILED IN CLERK'S OFFICE 1st READING y �� PUBLIC HEARING AUG 81978 2nd READING 14f NOT APPROVED Irene Gammon REFERRED �'" CITY CLERIC, SOUTH BEND, IND, PASSED It C4 -2- WILLIAM E XOOR GUY H.McMICHAEL LLOYD M.ALLEN KENNETH P. FEDDER GEORGE E.HERENDEEN MICHAEL P. BARNES JOHN B. RAMMING ANTHONY D. KOWALS BRIAN J. MAY VOOR, MCMICHAEL, ALLEN, FEDDER 8 HERENDEEN ATTORNEYS 8 COUNSELORS AT LAW 300 FIRST BANK BUILDING Members of the South County -City Building South Bend, Indiana SOUTH BEND, INDIANA 46601 Bend Common Council 46601 RE: Revenue Bond Application HARVEY E. DEACON AND HELEN DEACON Gentlenen: AREA CODE 219 234 -6061 OF COUNSEL: WILLIAM O. JACKSON Application of a revenue bond issue for $170,000.00 for and on behalf of HARVEY E. DEACON AND HELEN DEACON, for the construction of a facility on a parcel of land located in Penn Township on the north side of U.S. 20, just west of Bittersweet Road, Mishawaka, Indiana. This expansion will mean an increase in employment. It is anticipated that the facility will create approximately 10 new jobs. It is property zoned and it will be a further expansion of business here in our South Bend area. KPF /gwo Very truly yours, KE ETH P. FEDDER ORNEY FOR ECONOMIC DEVELOPMENT COMMISSION FILED IN CLERK'S OFFICE AUG 81978 Irene Gammon CITY CLERK, SOUTH BEND, IND. 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 HARVEY E. AND HELEN DEACON, BY THE ISSUANCE 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 the day of , 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 HARVEY E. AND HELEN DEACON, by the execution of a Lease and Trust Indenture and the issuance of Industrial Development Revenue Bonds in a total amount not to exceed $170,000.00 repayable over a period not to exceed fifteen (15) years duration. With respect to the ordinance, you are respectfully asked to publish once in a newspaper in South Bend, Indiana, 0 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 , 1978. SOUTH BEND ECONOMIC DEVELOPMENT FILED IN CLERK'S OFFICE COMMISSION By AUG 9 1979i Irene Gammon CITY CLERK, SOUTH BEND, INU.