HomeMy WebLinkAboutApproving Revenue Bonds Attco Machine Products IncORDINANCE No. 5799 -75
Passed by the Common Council of the City of South Bend,
JANUARY 27,
Presented by me to the Mayor of the City of South Bend,
JANUARY 28
�9 75
IRENE K. GAMMON
Clerk
of Common Council
Clerk
IRENE K. GAMMON
ORDINANCE NO. 5-,7 9 9- 7 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
ATTCO MACHINE PRODUCTS, INC.
WHEREAS, 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
WHEREAS, Attco Machine Products, Inc. has filed an
lication with the Commission to finance the acquisition of real
estate and the construction thereon 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
WHEREAS, in connection therewith the Commission has
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 and to
Superintendent of the School Corporation in the area of which
facilities will be.located, and has timely received favorable
from each of them; and
WHEREAS, the Commission held a public hearing on the pro-
posed financing of such facilities on ,LQ.+ ..a ,2 , 1974/, after giving
the required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5;
THORNBURG. MCGILL,
DEANL. HARMAN.
CAREY & MURRAY
i
WHEREAS, on the a7t-` day of C1._, 1975, this
Common Council of the City of South Bend",`— Indiana, adopted a
(resolution pursuant to which such financing of such facilities for
Attco Machine Products, Inc. under the Act was approved
after a finding that such proposed financing for such entity would
be of benefit to the health or welfare of the City of South Bend,
Indiana.
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
Attco Machine Products, 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 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 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 Attco
Machine Products, Inc. facilities, may be issued in amounts
not to exceed $325,000.00 over a period of fifteen (15) years from
April 1, 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
THORNBURG, MCGILL, approved by the Mayor.
DEAHL. HARMAN,
CAREY 9 HURRAY Presented by
Councilman
-2-
THORNBURG. MCGILL.
DEAHL. HARMAN.
CAREY & MURRAY
Passed and adopted by the Common Council of the City of
South Bend, Indiana, on the a7t-4day of ,�.� -�, , 1975.
Attest:
-� I - I
City Clerk
Z//"
of the Council
Presented by me to the Mayor of the City of South Bend,
Indiana, on the day of (7_ a �, , 1975, at the hour of
3 —�
day of
Attest:
/4
City Clerk
This ordinance approved
and
signed by
me on the ?IF—&
1975,
,.
at
the hour
nn
of :p p 10 M.
City Clerk
Isr READING - �2 '2 - -7 S
PUBLIC HEARING / - a 7 - 7 S
2nd READING _ -2 S NOT APPROVED- ---F-�
REFERRED
PASSED
FILED IN CLERK'S OFFICE
JAN 6 1975
Irene Gammon
CITY, CLERK, SOUTH BEND, IND,