|
REGULAR MEETING DECEMBER 16 1974
<br />REGULAR MEETING - RECONVENED (CONTINUED)
<br />RESOLUTION NO. 463 -74 (CONTINUED)
<br />Section 1. Such financing for August K. Brenner and Doris Ann Brenner 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
<br />its passage by the Common Council and approval by the Mayor.
<br />s/ Roger 0. Parent
<br />Member of the Common Council
<br />A public hearing was held at this time on the resolution. Mr. Kenneth Fedder, Attorney for the
<br />South Bend Development Commission, indicated that the construction of the facility would be at the
<br />northwest corner of Eckman and Main Streets. He stated that, on November 15, 1974, the commission
<br />met and felt there was a need for the facility because of the additional taxes and increase in
<br />employment. He indicated that the amount of the bond was $135,000, and the operation had moved
<br />from Mishawaka to South Bend. The firm was in the business of auto and truck rustproofing.
<br />Councilman Horvath asked if the building had been constructed, and Mr. Fedder stated that he thoug
<br />construction had started.
<br />Councilman Horvath made a motion to adopt the resolution, seconded by Councilman Taylor. The
<br />resolution was adopted by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller,
<br />Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth).
<br />RESOLUTION NO. 464 -74
<br />A RESOLUTION FINDING AND ADJUDGING
<br />THAT THE FINANCING OF FACILITIES FOR
<br />INDUSTRIAL REALTY, AN INDIANA PARTNER-
<br />SHIP, BY THE ISSUANCE BY THE CITY OF
<br />SOUTH BEND, INDIANA, OF ITS INDUSTRIAL
<br />DEVELOPMENT REVENUE BONDS PERTAINING
<br />TO SUCH FACILITIES FOR SUCH ENTITY WILL
<br />BE OF BENEFIT TO THE HEALTH OR WELFARE
<br />OF THIS MUNICIPALITY, AND APPROVING THE
<br />FINANCING THEREOF.
<br />WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has
<br />created the South Bend Development Commission, hereinafter referred to as "Commission ",
<br />pursuant to the provisions of the Public Law No. 182 of the Acts of the General
<br />Assembly of Indiana, for 1973, as such may be amended from time to time, including
<br />but not limited to IC 18- 6 -4.5 -2 through IC 18- 6- 4.5 -28, hereinafter referred to as
<br />the "Act "; and
<br />WHEREAS, Industrial Realty has filed an application with the Commission to
<br />finance the acquisition of real estate and the construction thereon of an industrial
<br />and commercial building (facilities) which will constitute economic development
<br />facilities resulting in a substantial number of new jobs as well as other benefits;
<br />and
<br />WHEREAS, in connection therewith the Commission had 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
<br />the Superintendent of the School Corporation in the area of which the facilities will
<br />be 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 November 15, 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
<br />and Trust Indenture and the Bonds; and
<br />WHEREAS, this Common Council of the City of South Bend, Indiana, now finds
<br />that the proposed financing of such facilities for Industrial Realty will be of benefit
<br />to the health or welfare of the City of South Bend, Indiana, and that, accordingly this
<br />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 Industrial Realty, an Indiana corporation, under
<br />the 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 />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the
<br />South Bend Development Commission, explained that the bond issue would provide for the constructioi
<br />and expansion of a facility consisting of 18,000 square feet at a cost of approximately $130,000.
<br />He stated that the next application would be for the equipment to be utilized. He indicated that
<br />the commission met and felt that the necessary prerequisites were met. Councilman Newburn asked
<br />about the number of new jobs to be created, and Mr. Fedder indicated that, at present, there were
<br />25 employees and there would be approximately 100 new jobs. He stated that the construction would
<br />be adjacent to Mishawaka and the firm dealt in molding forms, etc.
<br />t
<br />
|