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RESOLUTION NO. 2388 -96 A RESOLUTION OF THE CITY OF SOUTH BEND, <br />INDIANA COMMON COUNCIL PROVIDING <br />PRELIMINARY APPROVAL OF THE ISSUANCE OF <br />BONDS FOR THE PURPOSE OF PROVIDING <br />FINANCING OF CERTAIN ECONOMIC <br />DEVELOPMENT FACILITIES LOCATED AT 4044 <br />WILLIAM RICHARDSON COURT, SOUTH BEND, <br />INDIANA <br />RESOLVED, by the Commo <br />Indiana (the City), as foll <br />Whereas, the city is a <br />supplemented and amended (t <br />financing of economic devel <br />financing to be used for th <br />installation and equipping <br />facilities to be either lea <br />owned by another person; an <br />Whereas, Crystal Mount <br />the South Bend Economic Dev <br />and the City that it propos <br />economic development revenu <br />financing by Rick E. Newman <br />operation by the Applicant <br />facilities consisting of th <br />construction, installation <br />development facilities cons <br />square foot expansion to an <br />including machinery and equ <br />acres of land located at 40 <br />Bend, Indiana 46628 (the Pr, <br />the Lessor and the Applican <br />equip the Project within th, <br />Council of the City of South Bend, <br />s: <br />thorized by I.C. 36 -7 -11.9 and 12, as <br />e act) to issue revenue bonds for the <br />pment facilities, the funds from said <br />acquisition, construction, <br />f said facilities, and said <br />ed to another person or directly <br />Lin, Inc. (The Applicant), has advised <br />!lopment Commission (the Commission) <br />!s that the City issue and sell its <br />bonds for the purpose of providing <br />(the Lessor) for lease to and <br />if certain economic development <br />financing of the acquisition, <br />nd equipping of certain economic <br />sting of an approximately 12,000 <br />existing 18,900 foot building, <br />pment therein, on approximately 2.91 <br />4 William Richardson Court, South <br />ject), and the City wishes to induce <br />to acquire, construct, install and <br />City; and <br />Whereas, it appears that the creation and retention of <br />opportunities for gainful employment and the creation of business <br />opportunities to be achieved by the Project will serve a public <br />purpose and will be of benefit to the health and general welfare <br />of the City; and <br />Whereas, the Project will be owned by the Lessor and leased <br />to and operated by the Applicant for use as an economic <br />development facility; and <br />Whereas, it appears that the Project will not have adverse <br />competitive effect on any similar facility already constructed or <br />operating in the City. <br />Further resolved, by the Common Council of the City of South <br />Bend, Indiana, as follows: <br />SECTION 1. The Common <br />and confirms that the creat <br />gainful employment and the <br />be achieved by the Project <br />will be of benefit to the h <br />citizens of the City, and t. <br />this Council take such acti <br />diversification of industry <br />and near said City. <br />SECTION 2. The Common <br />ratifies and conforms that t <br />development revenue bonds of <br />not to exceed $790,000 for t <br />ouncil finds, determines, ratifies <br />n and retention of opportunities for <br />eation of business opportunities to <br />the City of South Bend, Indiana <br />lth and general welfare of the <br />t it is in the public interest that <br />as it lawfully may to encourage <br />nd promotion of job opportunities in <br />ouncil further finds determines, <br />e issuance and sale of economic <br />the City under the Act is an amount <br />e Project and the loan of the <br />1 <br />FJ <br />1 <br />