HomeMy WebLinkAboutApproving Revnue Bonds Pertaining Lomaz, Weisman and Zmuidzinski Aluma Products CoORDINANCE No 6205 -77
Passed by the Common Council of the City of South Bend, Indiana_
August 29 1977
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend, Indiana
August 30 �9 77
City Clerk
Of Common Council
IRENE K. GAMMON
Approved and signed by me_ U4— .02�- -' 30 9-1-1—
Clerk
THORNBURG, MCGILL.
DLAHL, HARMAN.
CAREY & MURRAY
ORDINANCE NO. (, et o S -7 7
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS,
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
RALPH D. LOMAZ, MANUEL C. SPATZ, IRA M. WEISMAN AND
JAMES G. ZMUDZINSKI (ALUMA PRODUCTS CO., INC. PROJECT)
STATEMENT OF PURPOSE OF INTENT:
The Common Council of the City of South Bend,
Indiana, heretofore has created the South Bend Development Commis-
sion, 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
RALPH D. LOMAZ, MANUEL C. SPATZ, IRA M. WEISMAN AND
JAMES G. ZMUDZINSKI have filed an application with the Commission to
finance the acquisition of real estate and the construction thereon of
an industrial and commercial building (facilities) which will consti-
tute 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 8 , 1977,
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 govern-
ing 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
THORNBURG. MCGILL.
DEAHL. HARMAN,
CAREY& MURRAY
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
Ralph D. Lomaz, Manuel C. Spatz, Ira M. Weisman and James G. Zmudzinski
relating to the Aluma Products Co., Inc. Project and the issuance of th
Industrial Development Revenue Bond or Bonds 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. Said 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 revenues derived from such Aluma
Products Co., Inc. Project pursuant to the aforementioned Lease and
Trust Indenture may be issued in amounts not to exceed Two Hundred
Twenty -five Thousand Dollars ($225,00.0.00) for a period not exceed-
ing fifteen (15) years after the first monthly installment due
thereon, in accordance with the terms of said Lease and Trust
Indenture and that such Bonds shall be executed on behalf of the City
of South Bend, Indiana, by the Mayor and City Clerk of South Bend,
Indiana, and shall be sealed with the corporate seal of said City.
Section 5. This Ordinance shall be in full force and
effect from and after its passage by the Common Council and approved
by the Mayor.
1st READING B "
PUBLIC HEARING
2nd READING
NOT APPROVED
REFERRED
PASSED 8. a 9-,7 7 � a.o CLI"t a r$ d
Irene Gammon
CITY CLERK, SOUR _.BE-N-D-4 9%
,,0A 2 9 19771
VOOR, JACKSON, McMICHAEL, ALLEN, FEDDER & HERENDEEN
WILLIAM E. VOOR ATTORNEYS & 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
MICHAELP.BARNES
August 2, 1977
JOHN B. RAMMING
ANTHONY D. KOWALS
TIMOTHY P. McLAUGHLIN
BRIAN J. MAY
Members of the South Bend Common Council
County -City Building
South Bend, Indiana 46601
RE: Revenue Bond Application
Aluma Products Company, Inc.
Dear Gentlemen:
An application of a Revenue Bond Issue for Two Hundred
Twenty -five Thousand ($225,000.00) Dollars, for and on
behalf of ALUMA PRODUCTS CO., INC., has been made for the
construction and equipping of a facility on the property
located at 2741 Foundation Drive, Airport Industrial Park,
Phase.'III, South Bend, Indiana.
It is estimated that this new facility will result in
the employment of approximately eight (8) new employees with
a gross annual payroll of an additional $96,000.00.
This expansion will mean an increase in employment.
It is properly zoned and it will be a further expansion of
business herein our South Bend area.
Respectfully,
enneth P. Fed- er
Atto n y`or the Economic Development
Commission
KPF /gwo