HomeMy WebLinkAboutApproving Industrial Development Revenue Bonds Medow\. \0
Passed by the Common Council of the City of South Bend, Indiana
June 29 1978
Attest:`-"' -"' Cit y Clerk
IRENE K. GAMMON
of Common Council
Presented by me to the Mayor of the City of South Bend, Ind'ana
Approved and signed by
June 30 --78
IRENE K. GAMMON
Clerk
ORDINANCE NO. (e 3 $ O - 7 o0
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND TRUST
r
INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, AND
AUTHORIZING THE EXECUTION THEREOF PERTAINING TO HAROLD MEDOW,
GENEVIEVE MEDOW, RONN MEDOW, THEODORA MEDOW, ROBERT MEDOW, AND
ROCHELLE MEDOW
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
HAROLD MEDOW, GENEVIEVE MEDOW, RONN MEDOW, THEODORA MEDOW,
ROBERT MEDOW,.and ROCHELLE MEDOW 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 -0-KAIC 4� 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
HAROLD MEDOW, GENEVIEVE MEDOW, RONN MEDOW, THEODORA MEDOW, ROBERT
MEDOW, and ROCHELLE MEDOW 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
HAROLD MEDOW, GENEVIEVE MEDOW, RONN MEDOW, THEODORA MEDOW, ROBERT
MEDOW, and ROCHELLE MEDOW facilities, may be issued in amounts
not to exceed Two Hundred Thousand ($200,000.00) Dollars for a
period not exceeding ��ri&�/ C-15) years after the first monthly
installment due thereon, in accordance with the terms of said Lease
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 said 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.
1st READING G - / R . -
PUBLIC HEARING _ -Q .9 _ 8'
2nd READING
NOT APPROVED
REFERRED
PASSED :---
1W-C
Member of the Common Council
BLED IN Cmrs DFF CE
JUN 71978
Irene Gammon
QU -CLERK, SOUTH BEND, IND.
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
GEORGE E.HERENDEEN
MICHAEL P. BARNES
JOHN B. RAMMING
ANTHONY D. KOWAL5
TIMOTHY P. Mc LAUGHLIN
BRIAN J. MAY
\7oA-v%
Aay=za-, 1978
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
Thousand ($200,000.00) Dollars, for and on behalf of HAROLD
MEDOW, GENEVIEVE.MEDOW, RONN MEDOW, THEODOR A MEDOW, ROBERT
MEDOW, and ROCHELLE MEDOW, has been made for the construction
and equipping of a facility on the property located at 223 -227
North Lafayette Blvd., 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.
KPF /smn
Very truly-,�yurs,
=ethP. er
Attornec Development
Commission
FILED IN CLERIC'S OFFICE
JUN 71978
Irene Gammon
M CUR& SOUTH BEND, 1ryp,