HomeMy WebLinkAboutInducement Resolution Relating to: X-Ray Equipment, Inc. ProjectINDUCEMENT RESOLUTION
OF INDIANA
THE
OF SOUTH
Equipm nt, Inc. Project
Relating to:
ere are insufficient em-
WHEREAS, at the present time th I
insufficient diversification of business.,
ployment opportunities and of South Bend, Indiana
commerce and industry in and near the City
(the "City "); and City would be bene-
the economic welfare of the
WHEREAS,
ment
facilities in the
' ed by the acquisition of economic develop the "Act ");
fit 6 -4.5
City pursu
ant to the provisions of Indiana Code 18-
an Inc., an Indiana corporation
WHEREAS, X -RaY Equipment,
to acquire economic development facili-
( "X -Ray Equipment ") proposes Act if the City
. located in the City as defined in the
t
ties to facilities pursuan
be
will finance costs of such economic development
to the Act; and Development Commission
wnEREAS, the South Bend Economic D
nt for the issuance of
' o n b X -Ray Equipme
has received an applicati Y
ic Development Bonds
in an amount not to
City of South Bend Econom
sand and no /100 Dollars ($800,000.0o) re-
exceed Eight ht Hundred Thou an eight ereon at a
ht (8) year period with interest
payable over d on tax - exempt
e consistent with interest rates generally pal rat purchase equip-
bonds the time the bonds are issued in order to professional cor-
bonds a an Indiana pr
Inc.,
ment to be leased to RadiologY,ase of approximately seven (7) add:
poration, resulting in an increase
principal user with an increased annual
tional employees by th e P 100 Dollars
dred Thousand
payroll of approximately One Hun and no/
($100,000.00) Per year. of Soutl
NOW,
THEREFORE. the Common Council of the City
Bend, Indiana resolves as follows: