HomeMy WebLinkAboutApproving Revenue Bonds Eugene C MuiaORDINANCE No. 5654 -74
Passed by the Common Council of the City of South Bend, Indiana
APRIL 8,
Fall
IRENE K. GAMMON
74
Presented by me to the Mayor of the City of South Bend,
APRIL 9
Approved and signed by
lKh
74
Clerk
of Common Council
Ae� City Clerk
IRENE K. GAMMON
THORNBURG. MCGILL.
0 -1AHL. HARMAN.
C:1-REY @ 1.I RI,Y
ORDINANCE NO. S 6 S q--2 �/
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS,
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
EUGENE C. MUTA
WHEREAS, the Common Couneil of the City of South Bend,
, heretofore has created the South Bend Development Commission,
referred to as "Commission ", pursuant to the provisions
the Municipal Economic Development Act of 1965, as amended,
or added to, including but not limited to the amendments,
or additions of IC -1973, 18- 6 -4.5, or any other amend-
, supplements or additions thereto, hereinafter referred to as
"Act "; and
WHEREAS, Eugene C. Muia has filed an application with
Commission to finance the acquisition of real estate and the
onstruction thereon of an industrial and commercial building
facilities) which will constitute economic development
ties resulting in a substantial number of new jobs as well
other benefits; and
WHEREAS, in connection therewith the Commission has
and placed on file a report containing the subject matter
specified in Section 16 of IC -1973, 18 -6 -4.5 and has forwarded
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 -
ed financing of such facilities on L'' O , 1974, after giving
required notice as provided for in Section 17 of IC -1973, 18- 6 -4.5;
1st READING
PUBLIC HEARING
2nd READING
NOT APPROVED
REFERRED
PASSED
4-8-'7k/
4,/'8 '24/
v( -2 1/
FILED ID CLERK'S OFFICE
[AAR 2 21974
Irene Gammon
CITY CLERK, SOUTH BEND, IND.
WHEREAS, on the day of , 1974, this
Council of the City of South Bend, Indiana, adopted a
solution pursuant to which such financing of such facilities for
C. Muia under the Act was approved after a finding that
proposed financing for such entity would be of benefit to
health or welfare of the City of South Bend, Indiana.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of
City of South Bend, Indiana, that:
Section 1. The form and terms of the Lease and Trust
and Economic Development Revenue Bonds pertaining to
C. Muia facilities and the issuance of the Economic
ment Bonds pursuant thereto are hereby approved and adopted.
Section 2. Said forms of Lease and Trust Indenture
ogether with Economic Development Revenue Bonds which are on file
the Commission are hereby incorporated by reference into this
, and said forms shall be inserted into the minutes of
Common Council of the City of South Bend, Indiana, and shall
kept on file by the City Clerk of South Bend, Indiana.
Section 3. The Lease and Trust Indenture and Economic
opment Revenue Bonds shall be executed on behalf of the City
f South Bend, Indiana by the Mayor and City Clerk and sealed with
he corporate seal of such City, but such execution shall not take
lace until the elapse of twenty (20) days following the adoption
this Ordinance as provided by law.
Section 4. Said Economic Development Revenue Bonds,
ayable solely and only from the revenue derived from such
C. Muia facilities, may be issued in amounts not
exceed $125,000.00 for a period of fifteen (15) years duration from
date of the issuance of such bonds in accordance with the terms
-2-
l "H OR NvVRG. NCGIL�.
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
Councilman
Passed and adopted by the Common Council of the City
of South Bend, Indiana, on the ?r-� day of _Q �__p� , 1974.
Attest:
President of t Council
City Clerk
Presented by me to the Mayor of the City of South Bend,
Indiana, on the q L--day of O ,Lc 1974, at the hour of
112 6 M.
City Clerk
This ordinance approved and signed by me on the L�
day of , 1974,E the houro �L.M.
Attest: 4
City Clerk
THOR,' VRC. MCGILL.
DCA,i L, i11 .AN.
CAR_Y & IURR,