HomeMy WebLinkAboutApproving Industrial Development Revenue Acra AcresPassed by the Common Council of the City of South Bend, Indiana
August 14, 19 78
a
IRENE K. GAMMON
o-
Presented by me to the Mayor of the City of South Bend, Indiana
August 15, 19 _18
Approved and signed by me ��u� o►= - -#- I ',S"
Clerk
Of Common Council
IRENE K. GAMMON
zg_,.2-r--
Clerk
ORDINANCE NO. ! 'f�$
OR APPROVING THE FORM NTTREVENUE BONDS, ANDTRUST
AN _ ....mm�TTT. TiF'+.VELOrME __ _ _ _.... T nnT -A( RS
STATEMENT OF PURPOSE OF INTENT: Indiana,
The Common Council of the City of South Bend,
„ pursuant to the provi-
heretofore has created the SouommissionDevplopment Commission,
hereinafter referred to as C be amended from time
sions of the Public Law 197318asosuchemaytb of the d General
fro
Assembly of In for , _ through
to time, including but nlreferred toCas8 the 4 "Act;" and
IC 18- 6- 4.5 -28, hereinafter
ACRA ACRES has filed an application with the Commission
commercial bung (facilities) which
isition of real estate and the construction
to finance the acqu
thereof of an industrial and comet ildi
will constitute economic develoaseWellaaslother benefits; and
s
substantial number of new jobs d
in connection therewith the Commission has pre er are re
and placed on file a report containing as
specified in Section 16 of IC 18 -6-4.5 andohas forwarded tcopies
thereof to the Chairman of the
Superintendent of the School Corporation in the area of whit
the facilities will be 1 t
reports from each of them; and
the Commission held a public hearing on the proposed
financing of such facilities on June 30, 1978,
after giving
the required notice as provided for in Section 17 w IC he purposes
.5
and did find that the proposed financing complies with the purposes
applicable Indiana statutes governing the
and provisions of the app the Commission
issuance of Industrial Development Revenue osed facility will not have
and the Commission finds that the pro,
an adverse competitive effect on similar facil Bend, Council
and
constructed and operating in the City Of South
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 Leaserand Trust
Indenture Indenture and Revenue Develop -
ACRA ACRES fac approved and adopted.
ment Revenue Bond pursuant thereto are hereby PP
Section 2. Said forms of Lease and Trust Indenture
together with Industrial Development
incorporateddby which
reference on
file with the Commission are hereby
into this Ordinance, and said forms shall inserted into the Indiana
minutes of the Common Councilthe City Clerk f South I
Clerk of South Bend, Indiana.
and shall be kept on file by
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
ACRA ACRES facilities, e Thousand ($275,O0000) Dollars
auueforea
Two Hundred Seventy-five
period not exceeding fifteen (15) years after the first monthly
VOOR, JACKSON, McMICHAEL, ALLEN, FEDDER 8 HERENDEEN
WILLIAM E. VOOR ATTORNEYS 8 COUNSELORS AT LAW AREA CODE 219
WILLIAM O. JACKSON
300 FIRST BANK BUILDING 234 -6061
GUY H. Mc MICHAEL
LLOYD M.ALLEN
SOUTH BEND, INDIANA 46601
WILLIAM E.VOOR,JR.
KENNETH P. FEDDER
-�^
'f 4� 4.
GEORGE E. HERENDEEN
a `L Z 1 (]
O
7 p
MICHAEL P.BARNES
/ 7
JOHN B.RAMMING
ANTHONY D. KOWALS
TIMOTHY P. Mc LAUGHLIN
BRIAN J. MAY
Members of the South Bend Common Council
County -City Building
South Bend, Indiana 46601
RE: Revenue Bond Application
Dear Gentlemen:
Application of a Revenue Bond Issue for Two Hundred
Seventy -five Thousand ($275,000.00) Dollars, for and _on
behalf of ACRA ACRES, has been made for the construction
and equipping of a facility on the property located at
51563 U.S. 31 North, South Bend, Indiana.
This expansion will mean an increase in employment.
It is properly zoned and it will be a further expansion
of business here in our South Bend area.
Ver` truly ours,
FILED IN CLERK'S OFFICE
/Xen'neth 9 19� P: edder
JUL Attorney �othe Economic Development
+ ommission
Irene Gammon
CITY CLERK, SOUTH BEND, IND.
KPF /smn
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 ACRA ACRES BY THE ISSUANCE
BY THE CITY OF SOUTH BEND, INDIANA, OF I
INDUSTRIAL DEVELOPMENT REVENUE BON ED IN CLERK'S OFFICE
TO: Irene K. Gammon
City Clerk JUL 19 1978
City of South Bend
County -City Building Ilene Gammon
South Bend, Indiana 46601 u
CITY CLERK, SOUTH BEND, IND.
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 June 30,
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 ACRA ACRES, by the execution of
a Lease and Trust Indenture and the issuance of Industrial
Development Revenue Bonds in a total amount not to exceed
($275,000.00) 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,
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 M day of 1978
SOUTH BEND ECONOMIC DEVELOPMENT
COMMISS,ION
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