08-12-74 Council Meeting Minutes

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REGULAR MEETING AUGUST 12, 1974 REGULAR MEETING - RECONVENED (CONTINUED) (RESOLUTION NO. 437 -74 (CONTINUED) REVENUE BONDS PERTAINING TO SUCH FACILITIES FOR SUCH ENTITY WILL BE OF BENEFIT TO THE HEALTH OR WELFARE OF THIS MUNICIPALITY, AND APPROVING THE FINANCING THEREFOR. WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Development Commission, hereinafter referred to as "Commission ", pursuant to the provisions of the Public Law No. 183 of the Acts of the General Assembly of Indiana, for 1973, as such may be amended from time to time, including but not limited to IC 18- 6 -4.5 -2 through IC 18- 6- 4.5 -28, hereinafter referred to as the "Act "; and WHEREAS, Osthimer, Inc. has filed an application with the Commission to finance the acquisition of real estate and the construction thereon of an industrial and manufacturing building (facilities) which will constitute economic development facilities resulting in a substantial number of new jobs as well as other benefits; and WHEREAS, in connection therewith the Commission has prepared and placed on file a report containing the subject matter as specified in Section 16 of IC 1973, 18 -6 -4.5 and has forwarded copies thereof to the Chairman of the Area Plan Commission and to the Superintendent of the School Corporation in the area of which the facilities will be located, and has timely received favorable reports from each of them; and WHEREAS, the Commission held a public hearing on the proposed financing of such facilities on July 19th, 1974, after giving the required notice as provided for in Section 17 of IC 1973, 18- 6 -4.5; and WHEREAS, the Commission at such meeting by a duly adopted written resolution, incorporated herein by reference, found that the proposed financing complies with the purposes and provisions of the Act, and approved such financing, including, but not limited to, the forms and terms of the financing agreement consisting of the Lease and Trust Indenture and the Bonds; and WHEREAS, this Common Council of the City of South Bend, Indiana, now finds that the proposed financing of such facilities for Osthimer, Inc. will be of benefit to the health or welfare of the City of South Bend, Indiana, and that, accordingly, this resolution should be adopted. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, that: Section 1. Such financing for Osthimer, Inc., an Indiana Corporation, under the Act be and the same is hereby approved. Section 2. This resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. s/ Roger 0. Parent Councilman A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the South Bend Development Commission, indicated that Osthimer, Inc. was a printing firm involved in the offset and letter press printing. He stated that the commission desired to involve itself in smaller operations, as well as large expansions, and this facility would be constructed in the Airport III expansion program. He indicated that the commission had met on July 19, 1974, and determined that the proposed financing was of benefit to the community. He introduced Mr. James Kuehl, the attorney representing Osthimer, Inc. Councilman Parent made a motion that the resolution be adopted, seconded by Councilman Kopczynski. The resolution was adopted by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth). RESOLUTION NO. 438 -74 A RESOLUTION PROVIDING FOR THE ACQUISITION AND CONSTRUCTION OF AN ECONOMIC DEVELOPMENT PROJECT AND THE LEASING OF THE SAME TO MARILYN BROWN, RAEL F. BROWN, SHIRLEY B. WAKS AND BEATRICE L. NEVEL, AND ST. JOSEPH INSURANCE AGENCY, INC., AN INDIANA CORPORATION, DOING BUSINESS AS ST. JOSEPH -BROWN BUILDING COMPANY, AN INDIANA GENERAL PARTNERSHIP; AUTHORIZING THE ISSUANCE AND CONFIRMING THE SALE OF $995,000 PRINCIPAL AMOUNT OF ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1974 (ONE PLAZA PLACE BUILDING), FOR THE PURPOSE OF PAYING THE COST OF ACQUIRING AND CONSTRUCTING THE ECONOMIC DEVELOPMENT PROJECT AND NECESSARY EXPENSES INCIDENTAL THERETO, AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE SECURING THE BONDS AND PROVIDING FOR THE DISBURSEMENT OF A PORTION OF THE PROCEEDS THEREOF; AND PRESCRIBING OTHER MATTERS PERTAINING THERETO. WHEREAS, the City of South Bend, Indiana ( "the City ") has created the South Economic Development Commission ( "the Commission ") pursuant to the provisions of Chapter 4.5 of Article 6 of Title 18 of the Indiana Code of 1971, as amended ( "the and Bend Act");