HomeMy WebLinkAboutApproving Revenue Bonds Curtis Products IncORDINANCE No. 5694—
Passed by the Common Council of the City of South Bend, Indiana
24
IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend,
JUNE 25 194
Approved and signed by me
Clerk
of Common Council
IRENE K. GAMMON
Clerk
ORDINANCE NO. S 6 9 4/ -'7
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS,
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
CURTIS PRODUCTS, INC.
WHEREAS, the Common Council of the City of South Bend,
Indiana, heretofore has created the South Bend Development Com-
mission, 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, Curtis Products, Inc., an Indiana corporation,
has filed an application with the Commission to finance the acquisi-
tion of real estate and the construction thereon of an industrial
and manufacturing building (facilities) 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 pre-
pared 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 % , 1974, after
giving the required notice as provided f in Section 17 of IC -1973,
18- 6 -4.5; and
WHEREAS, on the ?4 day of 1974, this
Common Council of the City of South Bend, ndiana, adopted a re-
solution pursuant to which such financing of such facilities for
Curtis Products, Inc., an Indiana corporation, 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
Curtis Products, Inc., 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 to-
gether 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 Bonds shall be executed on behalf of the City of South
Bend, Indiana by the Mayor and City Clerk and sealed with the corpo-
rate seal of such City.
Section 4. Said Industrial Development Revenue Bonds,
payable solely and only from the revenue derived from such Curtis
Products, Inc., an Indiana corporation, facilities, may be issued
in amounts not to exceed $450,000.00 for a period of twenty (20)
years from the day of � /�, , 1974 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
-2-
effect from and after its passage by the Common Council and
approved by the Mayor.
Presented by 7/J
Councilman
Passed and adopted by the Common Council of the City
of South Bend, Indiana, on the ;24 � day of � 1974.
Attest:
President of the Council --
City Clerk
Presented by me to the Mayor of the City of South Bend,
Indiana, on the a s day of C) 1974, at the hour of
x;00 P.M.
City Clerk
This ordinance approved and signed by me on the a 7
day of _moo 1974, at the hour of _.M.
Attest:
City Clerk
1st READING
- a V - 17
PUBLIC HEARING
G - a 4 - '7 �{
2nd READING
G - a4 —7
�`�. v
NOT APPROVED
REFERRED
t r --
PASSED
_a4/ _ -7 4/
-3-
FILED IN CLERK'S OFFICE
JUN 12 1974
Irene Gammon
CITY CLERK, SOUTH BEND, IND,