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REGULAR MEETING S EPTEMBER 15 1980
<br />REGULAR MEETING RECONVENED (CONTINUED)
<br />This inducement Resolution shall be in full force and effect from and after its adoptiot
<br />by the Common Council and approval by the Mayor.
<br />/s /Lewis A. McGann
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, attorney
<br />for the Economic Development Commission, indicated they planned to enlarge their facility
<br />and add two new jobs. Council Member Szymkowiak made a motion to adopt this resolution,
<br />seconded by Council Member Beck. The resolution was adopted by a roll call vote of nine
<br />ayes.
<br />RESOLUTION NO. 815 -80
<br />A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A
<br />MEMORANDUM OF INTENT BETWEEN THE CITY OF SOUTH BEND, INDIANA
<br />AND ROMANA R. R. PRIMUS, M.D., PROVIDING FOR THE ISSUANCE BY
<br />SAID CITY OF ITS ECONOMIC DEVELOPMENT REVENUE BONDS PURSUANT
<br />TO THE PROVISIONS OF INDIANA CODE, TITLE 18, ARTICLE 6,
<br />CHAPTER 4.5, AS AMENDED.
<br />The area still has insufficient employment opportunities and insufficient diversifica -,
<br />tion of industries, which conditions are harmful to the .economic stability,�and general
<br />welfare of the area and, if not remedied, will be detrimental to the development of such
<br />area.
<br />The City of South Bend, Indiana (the "City ") is authorized under the provisions of
<br />Indiana Code, Title 18, Article 6, Chapter 4.5, as amended (the "Act "), to acquire con -
<br />struct and finance economic development projects for the users thereof and to provide for
<br />the issuance of revenue bonds in conjunction therewith.
<br />The City, in order to implement the public pruposes enurmerated in the Act and in furth
<br />ance thereof to induce Romana.R. Primus, M.D. (the Borrower), to purchase and construct an
<br />office comlex, including all necessary land., improvements, machinery, equipment, fixturees
<br />and furnishings (hereinafter collectively called the "Project "):within the limits of the
<br />City of South Bend, Indiana, has indicated its intent to issue its revenue bonds under and
<br />pursuant to the provisions of.the Act and to apply the proceeds therefrom to the payment
<br />of the costs of the Project.
<br />The Borrower, after considering a number of possible locations within and outside the
<br />State of Indiana, and in.reliance upon the intent of theCity to finance the Project throug
<br />the issuance of revenue bonds under the provisions of the Act, has determined to construct
<br />the Project within the limits of the City of South Bend, Indiana.
<br />It is now deemded advisable to authorize the execution and delivery by the City of a
<br />Memorandum of Intent expressing formally and in writing the understanding heretofore for-
<br />mally agreed upon by the City and the Borrower.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana,
<br />as folllows:
<br />SECTION 1 The Mayor is hereby authorized and directed to execute a Memorandum of
<br />Intent by and between the City and the Borrower and the City is hereby authorized and
<br />directed to affix the eal of the City thereto and to attest to the same; and said Mayor
<br />and City Clerk are hereby authorized and directed to cause said Memorandum of Intent to
<br />be delivered to, accepted, and executed by the Borrower, said -Memorandum, of Intent, which
<br />is hereby approved and incorporated by reference and made a part of this authorizing resol
<br />tion, to be in substantially the form attached hereto.
<br />SECTION 2. All resolutions and orders, or parts thereof, in conflict with the pro-
<br />visions of this resolution are, to the extent to such conflict, hereby repealed , and this
<br />resolution shall be in immediate effect from and after its adoption.
<br />This inducement resolution shall be in full force and effect from and after its.adoptio
<br />by the Common Council and approved by the Mayor.
<br />/s /Lewis A. McGann
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, attorney
<br />for the Economic Development Commission, indicated this was a new medical facility and four
<br />new employees would be hired. Council Member Kopczynski made a motion to adopt this res-
<br />olution, seconded by Council Member Dombrowski. The resolution was adopted by a roll call
<br />vote of nine ayes.
<br />RESOLUTION NO. 816 -80 INDUCEMENT RESOLUTION RELATING TO THE FINANCING OF ECONOMIC
<br />DEVELOPMENT FACILITIES FOR SOUTH BEND MEDICAL FOUNDATION, INC.
<br />WHEREAS, at the present time there are insufficient employment opportunities and in-
<br />sufficient diversification of economic development facilities in and near the City of
<br />South Bend, Indiana (the "City "); and
<br />WHEREAS, the economic welfare of the City would be benefits by the acquisition and
<br />construction of economic development facilities pursuant to the provisions of Indiana
<br />Code 18-6-4.5 ( the ".'Act"); and
<br />WHEREAS, South Bend Medical Foundation, Inc. (the "Company "), proposes to acquire and
<br />construct economic development facilities as defined in the Act if the City will finance
<br />costs of such economic development facilities pursuant to the Act; and
<br />WHEREAS, the South Bend Economic Development Commission has adopted a resolution making
<br />certain findings with respect to such proposed economic development facilities (the "Projec
<br />and has forwarded such resolution to this Common Council.
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