HomeMy WebLinkAboutEconomic Development Revenue Bonds for South Bend Medical Foundation Inc. Improvement ProjectRESOLUTION
NO. 2415 -96
Passed by the Common Council of the City of South Bend, Indiana,
October 14, 19 96
Clerk
Attest: U/ _'z� President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
October 15, 1996
City Clerk
Approved and signed by me V i � 5_I9_9�.
Mayor
RESOLUTION NO. 1/5
A RESOLUTION CONSENTING TO THE TRANSFER OF
JURISDICTION TO ST. JOSEPH COUNTY, INDIANA
REGARDING ECONOMIC DEVELOPMENT FACILITIES AND
THE ISSUANCE OF ST. JOSEPH COUNTY ECONOMIC
DEVELOPMENT REVENUE BONDS (SOUTH BEND MEDICAL
FOUNDATION INC., IMPROVEMENT PROJECT)
TO FINANCE SAID FACILITIES
STATEMENT OF PURPOSE AND INTENT
WHEREAS, the City of South Bend, Indiana (the "City "), is a
municipal corporation and political subdivision of the State of
Indiana and by virtue of IND. CODE §36- 7 -12 -22 is authorized and
empowered to adopt this Resolution; and
WHEREAS, South Bend Medical Foundation, Inc., ( "Foundation "),
an Indiana not - for - profit corporation with principal offices
located in South Bend, Indiana, at 530 North Lafayette, presently
intends to finance the renovation and improvement of its existing
medical laboratory facilities which are to be located in the City
of South Bend and which comprise "economic development facilities"
within the meaning of IND. CODE §36 -7- 11.9 -3 through the issuance
of economic development revenue bonds pursuant to the provisions of
IND. CODE 36 -7 -12 et se q., as amended (the "Act "); and
WHEREAS, there is a need to upgrade the Foundation's equipment
and facilities; and
WHEREAS, due to the county -wide service provided by said
facilities, the Common Council of the City of South Bend wishes to
transfer jurisdiction over said facilities and the financing
thereof pursuant to the Act to South Joseph County. IND. CODE §36-
7-12-22(b) provides in relevant part that "...economic development
facilities that are to be located within the corporate boundaries
of a municipality may not be financed by a County without the
consent of the fiscal body of the municipality..."
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA, THAT the Common Council consents,
pursuant to the provisions of IND. CODE §36- 7- 12- 22(b), to the
financing of the renovation and improvement of said facilities by
St. Joseph County, Indiana and its Economic Development Commission,
and jurisdiction with respect thereto is hereby transferred to St.
Joseph County, Indiana.
This Resolution shall be in full force and effect immediately
upon its adoption by the Common Council and approval by the Mayor.
Dated this 14th day of October, 1996.
Member, South Bend Cofamon Council
PRESENTED /O " /y, 766
NOT 'APPROVED
ADOPTED /� , Iq -,q l
Filed in Cleric's Office
OCT - 9 1996
LORETTA., iY6FA
Om CLERK, 90. SEND, W.