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REGULAR MEETING DECEMBER 16, 1974
<br />REGULAR MEETING - RECONVENED (CONTINUED)
<br />Councilman Newburn made a motion to adopt the resolution, seconded by Councilman Horvath. 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. 465 -74
<br />A RESOLUTION FINDING AND ADJUDGING
<br />THAT THE FINANCING OF FACILITIES FOR
<br />THERMOPLASTICS, INC., AN INDIANA CORPORA-
<br />TION, BY THE ISSUANCE BY THE CITY OF
<br />SOUTH BEND, INDIANA, OF ITS INDUSTRIAL
<br />DEVELOPMENT REVENUE BONDS PERTAINING TO
<br />SUCH FACILITIES FOR SUCH ENTITY WILL BE
<br />OF BENEFIT TO THE HEALTH OR WELFARE OF
<br />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, Thermoplastics, Inc. has filed an application with the Commission to
<br />finance leased industrial equipment for an industrial and commercial building (facilities)
<br />which will constitute economic development facilities resulting in a substantial number
<br />of new jobs as well as other 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 November 15, 1974, after giving the required notice as provided for in
<br />Section 16 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 Thermoplastics, Inc., 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 Thermoplastics, Inc., 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 application was for the equipment for the
<br />preceding bond request. He stated that 95% of the existing employment was from South Bend, and
<br />it was thought that, with the addition of 100 jobs, most of the employment would be within the cit
<br />Councilman Newburn made a motion to adopt the resolution, seconded by Councilman Parent. 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 />ORDINANCES, FIRST READING
<br />ORDINANCE NO. 5779 -74 AN ORDINANCE APPROVING THE FORM AND TERMS
<br />OF LEASE AND TRUST INDENTURE AND INDUSTRIAL
<br />DEVELOPMENT REVENUE BONDS AND AUTHORIZING
<br />THE EXECUTION THEREOF PERTAINING TO AUGUST
<br />K. BRENNER AND DORIS ANN BRENNER.
<br />This ordinance had first reading. Councilman Kopczynski made a motion to suspend the rules and
<br />take action on the ordinance, seconded by Councilman Taylor. The motion carried by a roll call
<br />vote of nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath,
<br />Newburn and Nemeth). This ordinance then had second reading. Councilman Horvath made a motion to
<br />pass the ordinance, seconded by Councilman Miller. The ordinance passed by a roll call vote of
<br />nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn and
<br />Nemeth) .
<br />ORDINANCE NO. 5780 -74 AN ORDINANCE APPROVING THE FORM AND TERMS
<br />OF LEASE AND TRUST INDENTURE AND INDUSTRIAL
<br />DEVELOPMENT REVENUE BONDS AND AUTHORIZING
<br />THE EXECUTION THEREOF PERTAINING.TO
<br />INDUSTRIAL REALTY, AN INDIANA PARTNERSHIP.
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