HomeMy WebLinkAboutApproving Revenue Bonds Hill White Truck Sales IncORDINANCE No. 5585 -73
Passed by the Common Council of the City of South Bend, Indiana.
SEPTEMBER 24, 1973—
Attest: Xl a� G" a �6' , � e ) u, #-- z ,City Clerk
IRENE K. GAMMON
D�� 2:2 ,a
President of Common Council
Presented by me to the Mayor of the City of South Bend,
Approved and signed by
IRENE K.
Clerk
ORDINANCE NO. S.S r S- 17 3
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND ECONOMIC DEVELOPMENT REVENUE BONDS,
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
HILL WHITE TRUCK SALES, 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 Municipal Economic Development Act of 1965, as amended,
supplemented or added to, including but not limited to the amendments,
supplements or additions of IC -1973, 18- 6 -4.5, or any other amend-
ments, supplements or additions thereto, hereinafter referred to as
the "Act "; and
WHEREAS, Hill White Truck Sales, Inc. has 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 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 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
WHEREAS, the Commission held a public hearing on the pro-
posed financing of such facilities on�� 1973, after giving
the required notice as provided for in Section 17 of IC -1973, 18 -6 -4.5
and
THORNBURG, MCGILL,
OEAHL. HARMAN.
CAREY 2 MURRAY
WHEREAS, on the �� day of , 10,73, this
Common Council of the City of South Bend, Indiana, adopted a
resolution pursuant to which such financing of such facilities for
Hill White Truck Sales, 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 Economic Development Revenue Bonds pertaining to
Hill White Truck Sales, Inc. facilities and the issuance
of the Economic Development Bonds pursuant thereto are hereby
approved and adopted.
Section 2. Said forms of Lease and Trust Indenture
together with Economic 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 Economic
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, but such execution shall not take
place until the elapse of twenty (20) days following the adoption
of this Ordinance as provided by law.
Section 4. Said Economic Development Revenue Bonds,
payable solely and only from the revenue derived from such Hill
White Truck Sales, Inc. facilities, may be issued in amounts not
to exceed $550,000.00 for a period of twenty (20) years duration from
the date of the issuance of such bonds in accordance with the terms
-2-
THORNBURG, MCGILL.
OEAHL. HARMAN.
CAREY a MURRAY
THORNBURG, MCGILL.
❑EARL, HARMAN,
CAREY & MURRAY
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 Qv?-day of �/„ , 1973•
Attest:
Y�2. Gt�gy rQs_b, President of the Council
City Clerk
Presented by me to the Mayor of the City of South Bend,
Indiana, on the .25�-kday of 1973, at the hour of
M.
iR, • f, �� C D- �1�
City Clerk
This ordinance
approved
and signed by me on
the /,6'-
day of unR-f-,Q % ,
197, t
t e}� lour Nfn /0:"
a.m.
Attest:
City Clerk
FILED IN CLERTS OFFICE
1973
♦.% �._4,
i
1st READING
9' a 'y -13
Irene
Gammon
PUBLIC HEARING
g- a v- ? 3
2nd READING
9- a q- 9 3
o_ ff CLERK,
SOUTH BEND, IND,
NOT APPROVED
REFERRED
U
PASSED
9-2 y- ? 3