HomeMy WebLinkAboutApproving Terms of Lease Revenue Bonds Hamilton Manufacturing & Warehouse IncORDINANCE No. 5895 -75
Passed by the Common Council of the City of South Bend,
OCTOBER 6
/VPO` ---- -- City Clerk
IRENE K. GAMMON
/ President of Common Council
Presented by me to the Mayor of the City of South Bend,
OCTOBER 7, 19 75
/S— /c� City Clerk
IRENE K. GAMMON
Approved and signed by me 6A,�i 00 19-2LJ�—
ORDINANCE NO. 59 Q5- %S
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS,
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
HAMILTON MANUFACTURING AND WAREHOUSE, INC.
WHEREAS, the Common Council fo the City of South Bend,
Indiana, heretofore has created the South Bend Economic 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
WHEREAS, Hamilton Manufacturing and Warehouse, Inc. has
filed an application with the Commission to finance the acquisition
of an existing facility and the purchase of equipment which will
constitute economic development facilities resulting in a substantial
number of new jobs as well as other benefits; and
WHEREAS, in connection therewith the Commission has prepared
and placed on file a report containing the subject matter as specified
in Section 16 of IC -1973, 18 -6 -4.5 and has forwarded copies thereof
to the Chairman of the Area Plan Commission in the area of which the
facilities will be located, and has timely received a favorable
report from the Area Plan Commission; and
WHEREAS, the Commission held a public hearing on the pro-
posed financing of such facilities on September 5, 1975, after giving
the required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5;
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
Hamilton Manufacturing and Warehouse, Inc. facilities and the
issuance of the Industrial Development Revenue 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 froms 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 and Industrial
Development Revenue Bonds 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 Hamilton
Manufacturing and Warehouse, Inc., facilities, may be issued in
amounts not to exceed $750,000.00 for a period of fifteen (15)
years from
1975, 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.
Presented by: A
Councilma
-2-
Passed and adopted by the Common Council of the City of
South Bend, Indiana, on the s8= day of �N 1975,
ATTEST:
City Clerk
Presented by;me to the Mayor of the City of South Bend,
Indiana, on the "76' day of Oc-7b- .a,u , 1975, at the hour of
00 , P.M.
City Clerk
This Ordinance approved and signed by me on the 00
day of �„� J , 1975, at the hour of ,�D , AW
ATTEST:
t n,
City Clerk
1sf READING
PUBLIC HEARING
2nd READING
NOT APPROVED
REFERRED
PASSED
9 -a a - -73"
10 -6 -125'
tYOR
FILED IN CLERK'S OFFICE
SEP 9 1975
Irene Gammon
— 3 _ CITY CLERK, . SOUTH BEND, JND�