HomeMy WebLinkAboutApproving Revenue Bonds Dezkap Theatre CorpORDINANCE No. 5800 -75
Passed by the Common Council of the City of South Bend,
JANUARY 27, �9 75
Attest: 1r City Clerk
IRENE K. GAMMON
N
Presented by me to the Mayor of the City of South Bend,
JANUARY 28, ig 75
Approved and signed by me vg�'&e4 a P
Of Common Council
IRENE K. GAMMON
Clerk
ORDINANCE NO. 5800 -75-
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
DEZKAP THEATRE CORPORATION
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, Dezkap Threatre Corporation an Indiana corporation
has filed an application with the Commission to finance the remodeling
and renovation of an existing facility which will constitute economic
development facilities resulting in a substantial number of 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 1973, 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 in which the
facilities will be located, and has timely received favorable reports
from each of them; and
WHEREAS, the Commission held a public hearing on the
proposed financing of such facilities on November 29, 1974, after
giving the required notice as provided for in Section 16 of Ic 1973,
18- 6 -4.5; and
WHEREAS, on the 27th day of January 1975
this Common Council of the City of South Bend, Indiana adopted a '
resolution pursuant to which such financing of such facilities for
Dezkap Theatre Corporation, an Indiana corporation under the Act
was approved after 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 RESOLVED, 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 Bonds pertaining to Dezkap
Theatre Corporation, an Indiana corporation, 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. Said Industrial Development Revenue Bonds
payable solely and only from the revenue derived from such Dezkap
Theatre Corporation, an Indiana corporation, faiclities, may be
issued in amounts not to exceed $125,000.00 for a period of Ten (10)
years, with the terms of said Lesae 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 4. 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:
Councilm
Passed and adopted by the Common Council of the
City of South Bend, Indiana, on the 27th day of January ,
1975.
l/ �.___
P s' ent of Council
City Clerk
Presented
by me to
the Mayor
of the City of South Bend,
Indiana, on the
�2g E---
of
�L , 1975,
REFERRED
at the hour of f .M.
City Clerk
This ordinance apporved and
signed by me
on the
_
day of , 1975,
at the hour of
J:40
P.M.
REFERRED
ATTEST:
City Clerk
1st READING
/ - ? 7 -'7 S
PUBLIC HEARING
/ - 7 _ 7 s
2nd READING
/ _ 2 7 _ 7 y—
NO7 APPROVED
REFERRED
PASSED
/ - a'7 -'2 s V
FILED IN CLERTS OFFICE
JAN 6 19/5
Irene Gammon
CITY CLERK, SOUTH BEND, IND.