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REGULAR MEETING JANUARY 27 1975
<br />REGULAR MEETING - RECONVENED (CONTINUED)
<br />RESOLUTION NO. 471 -75
<br />A RESOLUTION FINDING AND ADJUDGING THAT
<br />THE FINANCING OF FACILITIES FOR DEZKAP
<br />THEATRE CORPORATION, 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 18- 6- 4.5 -28, hereinafter referred to as the
<br />"Act "; and
<br />WHEREAS, Dezkap Theatre Corporation has filed an application with the Commission
<br />to finance the remodeling and renovating of an existing facility which will constitute
<br />economic development facilities resulting in substantial number of new jobs as well as
<br />other benefits; 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 29, 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 complied 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 Dezkap Theatre Corporation 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. That such financing for Dezkap Theatre Corporation, an Indiana
<br />corporation, under the Act be and the same is hereby approved.
<br />Section 2. That this resolution shall be in full force and effect from and
<br />after its passage by the Common Council and approval by the Mayor.
<br />s/ Peter J. Nemeth
<br />Councilman
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the
<br />South Bend Development Commission, indicated that the issue involved the Avon Theatre on Michigan
<br />Street. He introduced Mr. Richard McDonald, Attorney for the firm, and he explained that the
<br />commission had met on November 29, 1974, and approved the financing. Mr. McDonald stated that the
<br />issue would be financed by the National Bank and Trust Company. The overall purpose would be to
<br />remodel the front of the theatre in order to beautify it. He stated that the floor rental areas
<br />north and south of the theatre extrance would also be remodeled. Certain safety features and new
<br />theatre seats would be installed. He stated that approximately 10 new employees would be added
<br />based on the projected sales volume and need of the enterprise. The amount of the bond was
<br />$125,000.
<br />Councilman Nemeth made a motion to adopt the resolution, seconded by Councilman Szymkowiak. The
<br />resolution was adopted by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller,
<br />Taylor, Kopczynski, Horvath, Nemeth, Newburn and Parent).
<br />ORDINANCES, FIRST READING
<br />ORDINANCE NO. 5799 -75 AN ORDINANCE APPROVING THE FORM AND
<br />TERMS OF LEASE AND TRUST INDENTURE AND
<br />INDUSTRIAL DEVELOPMENT REVENUE BONDS,
<br />.AND AUTHORIZING THE EXECUTION THEREOF
<br />PERTAINING TO ATTCO MACHINE PRODUCTS,
<br />INC.
<br />This ordinance had first reading. Councilman Newburn made a motion to suspend the rules and take
<br />action on the ordinance, seconded by Councilman Szymkowiak. The motion carried by a roll call vot(
<br />of nine ayes (Councilmen Serge, Szymkowiak, Miller, Taylor, Kopczynski, Horvath, Nemeth, Newburn
<br />and Parent). The ordinance then had second reading. Councilman Newburn made a motion to pass the
<br />ordinance, seconded by Councilman Horvath. The ordinance passed by a roll call vote of nine ayes
<br />(Councilmen Serge, Szymkowiak, Miller, Taylor, Kopczynski, Horvath, Nemeth, Newburn and Parent).
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