HomeMy WebLinkAboutConfirming the Sale & Transfer of 160 Shares of Stock of South Bend Manufacturing Co. to Indiana Franklin Realty Inc.ORDINANCE No. 3953
Passed by the Common Council of the City of South Bend,
DECEMBER 14TH, 19353
Ej, 4.
Clerk
of Common Council
Presented by me to the Mayor of the City of South Bend,
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4
Approved and signed by me DECEMBER 15TH2 19353
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Clerk
ORDINANCE NO. J A_4 J?
AN ORDINANCE CONFIRMING THE SALE AND TRANSFER
OF 160 SHARES OF STOCK OF SOUTH BEND MANUFACTUR-
ING COMPANY BY MUNICIPAL CITY OF SOUTH BEND,
INDIANA, TO INDIANA FRANKLIN REALTY, INC., AN
INDIANA CORPORATION
WHEREAS, Ordinance No. 3914, as enacted
on March 23, 1953, by the Common Council of
the City of South Bend, Indiana, and approved
on March 24, 1953, authorized the sale of 160
shares of capital stock of South Bend Manu-
facturing Company, an Indiana corporation,
which stock was issued in the name of the
Municipal City of South Bend, Indiana; and
WHEREAS, said Ordinance No. 3914
provides that the Board of Public Works and
Safety of the City of South Bend, Indiana,
should sell and deliver said stock to any
purchaser or purchasers thereof upon the
payment of not less than the full appraised
value thereof as determined by three dis-
interested freeholders of the City of South
Bend, Indiana, appointed by the Judge of the
St. Joseph Circuit Court of St. Joseph County,
Indiana, to appraise such stock; and
WHEREAS, pursuant to said Ordinance
No. 3914, the Judge of the St. Joseph Circuit
Court of St. Joseph County, Indiana, on
April 8, 1953, appointed Robert G. Happ,
Percy H. Walsh, and William S. Moore, three
disinterested freeholders of the City of
South Bend, Indiana, to appraise said stock;
and
WHEREAS, said Robert G. Happ, Percy H.
Walsh and William S. Moore subsequent thereto
duly appraised said 160 shares of stock to be
of a true cash value of $4,100.00; and
WHEREAS, said Board of Public Works and
Safety of the City of South Bend, Indiana,
on December 7, 1953, sold and authorized the
transfer of said 160 shares of capital stock
to Indiana Franklin Realty, Inc., an Indiana
corporation, and received as consideration
therefor, the following:
1. Approximately 30.16 acres
of realty located in the Northwest
Quarter of Section No. 26, Township
38 North, Range 2 East, St. Joseph
County, Indiana, as more particularly
described in the form of Warranty Deed
submitted at this meeting, incorporated
herein by reference, and a copy of which
form of Warranty Deed has been hereto-
fore filed with the minutes of the meet-
ing held by the Board of Public Works
and Safety of the City of South Bend,
Indiana, on December 7, 1953.
2. An easement over 30 feet of
realty adjacent to Hydraulic Avenue
in the City of South Bend, Indiana,
as more particularly described in the
form of Grant of Easement submitted
at this meeting, incorporated herein
by reference, and a copy of which
form of Grant of Easement has been
heretofore filed with the minutes of
the meeting held by the Board of Public
Works and Safety of the City of South
Bend, Indiana, on December 7, 1953.
3. A release and discharge of
all obligation and liability of the
Municipal City of South Bend, Indiana,
to Indiana Franklin Realty, Inc. for
amounts heretofore advanced and paid
by said Indiana Franklin Realty, Inc.
and its predecessors in interest in
connection with the salary of the
Water Commissioner and the taxes re-
ferred to in the Indenture submitted
at this meeting, incorporated herein
by reference, and a copy of which
Indenture has been heretofore filed
with the minutes of the meeting held
by the Board of Public Works and Safety
of the City of South Bend, Indiana, on
December 7, 1953.
4. Approximately one acre of
land in the Southeast Quarter of
Section No. 12, Township 37 North,
Range 2 East, lying East of the St.
Joseph River and West of St. Louis
Street in the City of South Bend,
Indiana, as more particularly described
in the form of Quit Claim Deed submitted
at this meeting, incorporated herein by
reference, and a copy of which form of
Quit Claim Deed has been heretofore filed
with the minutes of the meeting held by
the Board of Public Works and Safety of
the City of South Bend, Indiana, on
December 7, 1953.
5. A declaration of boundary
lines and grant of certain easements
in connection with the West Race in
the City of South Bend, Indiana, and
realty adjacent thereto as more parti-
cularly set forth in the Declaration
of Boundary Lines and Easements sub-
mitted at this meeting, incorporated
herein by reference, and a copy of
which Declaration of Boundary Lines
and Easements has been heretofore
filed with the minutes of the meeting
held by the Board of Public Works and
Safety of the City of South Bend, Indiana,
on December 7, 1953.
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OF
6��fRW
BE IT ORDAINED by the Common Council of
the City of South Bend, Indiana:
SECTION I: That the sale and transfer of all
riggh , title and interest of the Municipal
City of South Bend, Indiana, in and to said
160 shares of capital stock of South Bend
Manufacturing Company to Indiana Franklin
Realty, Inc., an Indiana corporation, as
aforementioned, be and the same hereby is
ratified, approved and confirmed in all things.
SECTION II: That this ordinance shall be in
and effect from and after its
the Common Council and its
the Mayor.
u21 force
adoption by
approval by
embe Of ommonZ ounci o
the City of South.Bend, Indiana
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