HomeMy WebLinkAboutAuthorizing the Mayor to Submit an Application to the Indiana Department of Commerce for an Industrial Development Fund Loan RESOLUTION
NO. 1489-87
Passed by the Common Council of the City of South Bend, Indiana,
March 23 , 19 87 .
Attest: T City Clerk
Attest: /_��1,' President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
March 24, 19 87.
°`42— City Clerk
Approved and signed by me March 25 19 87
/? i1 rC 'vLJ Mayor
RESOLUTION NO. 19 W4 -g7
RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO
SUBMIT AN APPLICATION TO THE INDIANA DEPARTMENT OF
COMMERCE FOR AN INDUSTRIAL DEVELOPMENT FUND LOAN.
WHEREAS, the City of South Bend is dedicated to pursuing
economic development through promoting growth of businesses which
stimulate the local economy and thereby benefit the people of South
Bend as a whole; and
WHEREAS, the Mastic Corporation expansion project will benefit
the local economy, specifically by creating new manufacturing jobs
and new construction jobs, by generating new taxes on real and
personal property, by utilizing vacant land, and by contributing to
the construction of a new building and infrastructure development in
the South Bend community; and
WHEREAS, the expansion of the Mastic Corporation, an existing
manufacturing industry in South Bend, fits into our overall
development concept as it will contribute to the restoration and
diversification of our industrial base; and
WHEREAS, the receipt of an Industrial Development Fund Loan
will enable the City of South Bend to provide the infrastructure
improvements necessary to implement this project, specifically by
constructing a new road that will facilitate the expansion of Mastic
Corporation and the future development of the Rum Village Industrial
Park.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA:
SECTION I. Hereby establishes the authority of the Mayor of
the City of South Bend to submit an Industrial Development Fund Loan
application to the Indiana Department of Commerce for the Mastic
Corporation expansion project.
SECTION II. This Resolution shall be in full force and effect
immediately upon passage by the Common Council of the City of South
Bend, Indiana, and approval by the Mayor.
AI I
41" /
(Membfbf th- Common 'f nc 1 /d
MIi-h 18 1987
PRESENTED 3-a,S- ? 7
NOT APPRO'a=D
ADOPTED 3- 3- 8-7