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REGULAR MEETING OCTOBER 14, 1974
<br />REGULAR MEETING - RECONVENED (CONTINUED)
<br />IRESOLUTION NO. 445 -74 (CONTINUED)
<br />WHEREAS, the Commission at such meeting by a duly adopted written resolution,
<br />incorporated herein by reference, found that the proposed financing complies with the
<br />purposes and provisions of the Act, and approved such financing, including, but not
<br />limited to, the forms and terms of the financing agreement consisting of the Lease
<br />and Trust Indenture and the Bonds; and
<br />WHEREAS, this Common Council of the City of South Bend, Indiana, now finds that
<br />the proposed financing of such facilities for Gates Realty, Incorporated, will be of
<br />benefit to the health or welfare of the City of South Bend, Indiana, and that, accordingly,
<br />this resolution should be adopted.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, that:
<br />Section 1. Such financing for Gates Realty, Incorporated, under the Act be and
<br />the same is hereby approved.
<br />Section 2. This resolution shall be in full force and effect from and after its
<br />passage by the Common Council and approval by the Mayor.
<br />s/ Peter J. Nemeth
<br />Councilman
<br />A public hearing was held at this time on the resolution. Mr. Kenneth Fedder, Attorney for the
<br />South Bend Development Commission, introduced Mr. James Harrington, the attorney for Gates Realty.
<br />Mr. Harrington indicated that the request was for bonds in the amount of $250,000. The location
<br />of the facility would be at Prairie Avenue and Garst Street. He explained that heavy -duty trucks
<br />and diesels would be serviced and supplies stocked. He indicated that the amount of $156,000 woulc
<br />be the anticipated payroll, and the area would consist of approximately 10,000 square feet under
<br />roof.
<br />Councilman Horvath made a motion to adopt the resolution, seconded by Councilman Szymkowiak. The
<br />resolution was adopted by a roll call vote of eight ayes (Councilmen Serge, Szymkowiak, Miller,
<br />Parent, Taylor, Kopczynski, Horvath and Nemeth) with Councilman Newburn absent at this time.
<br />IRESOLUTION NO. 446 -74
<br />A RESOLUTION FINDING AND ADJUDGING
<br />THAT THE FINANCING OF FACILITIES
<br />FOR KOONTZ - WAGNER ELECTRIC COMPANY,
<br />INC., BY THE ISSUANCE BY THE CITY
<br />OF SOUTH BEND, INDIANA, OF ITS
<br />ECONOMIC DEVELOPMENT REVENUE BONDS
<br />PERTAINING TO SUCH FACILITIES FOR
<br />SUCH ENTITY WILL BE OF BENEFIT TO
<br />THE HEALTH OR WELFARE OF THIS
<br />MUNICIPALITY, AND APPROVING THE
<br />FINANCING THEREFOR.
<br />WHEREAS, the Common Council of the City of
<br />created the South Bend Development Commission, h,
<br />pursuant to the provisions of the Public Law No.
<br />of Indiana for 1973, as such may be amended from
<br />limited to IC 18- 6 -4.5 -2 through IC 18- 6- 4.5 -28,
<br />and
<br />South Bend, Indiana, heretofore has
<br />areinafter referred to as "Commission ",
<br />182 of the Acts of the General Assembly
<br />time to time, including but not
<br />hereinafter referred to as the "Act ";
<br />WHEREAS, Koontz - Wagner Electric Company, Inc. has filed an application with the
<br />Commission to finance the acquisition of real estate and the construction thereon of
<br />an industrial and commercial building (facilities) which will constitute economic
<br />development facilities resulting in a substantial number of new jobs as well as other
<br />benefits; and
<br />WHEREAS, in connection therewith the Commission has prepared and placed on file
<br />a report containing the subject matter as specified in Section 16 of IC -1973, 18 -6 -4.5
<br />and has forwarded copies thereof to the Chairman of the Area Plan Commission and to the
<br />Superintendent of the School Corporation in the area of which the facilities will be
<br />located, and has timely received favorable reports from each of them; and
<br />WHEREAS, the Commission held a public hearing on the proposed financing of such
<br />facilities on , 1974, after giving the required notice as provided for in
<br />Section 17 of IC -1973, 18- 6 -4.5; and
<br />WHEREAS, the Commission at such meeting by a duly adopted written resolution,
<br />incorporated herein by reference, found that the proposed financing complies with the
<br />purposes and provisions of the Act, and approved such financing, including, but not
<br />limited to, the forms and terms of the financing agreement consisting of the Lease and
<br />Trust Indenture and the Bonds; and
<br />WHEREAS, this Common Council of the City of South Bend, Indiana, now finds that
<br />the proposed financing of such facilities for Koontz - Wagner Electric Company, Inc. will
<br />be of benefit to the health or welfare of the City of South Bend, Indiana, and that,
<br />accordingly, this resolution should be adopted.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, that:
<br />Section 1. Such financing for Koontz - Wagner Electric Company, Inc. under the
<br />Act be and the same is hereby approved.
<br />Section 2. This resolution-shall be in full force and effect from and after its
<br />passage by the Common Council and approval by the Mayor.
<br />s/ Peter J. Nemeth
<br />Councilman
<br />
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