04-09-79 Council Meeting Minutes

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REGULAR MEETING APRIL 9 1979 RESOLUTIONS RESOLUTION,NO. 692 -79 AN INDUCEMENT RESOLUTION RELATING TO THE WELTEK, INC. PROJECT. WHEREAS, pursuant to I.C. 18- 6 -4.5, the Common Council of the City of South Bend, Indiana created the South Bend Ecnomic Development Commission, which Commission, following an investiga- tion and survey, reported to the Mayor and the Common Council of the City of South Bend, Indiana that a neede exists in the community for additional job o- portunities and commercial and in- dustrial diversification within the City of South Bend, Indiana; and in order to improve and promote job opportunities, commercial diversification, and the general welfare of the area withi the City of South Bend, Indiana, a financing agreement should be entered into with Weltek, Inc., or its assigns, relating to a project to be known as the ''Weltek, Inc. Project; and WHEREAS, Weltek, Inc. is an existing corporation organized under the laws of the State of Indiana engaging in the business of manufacturing and selling electronic products and desires to expand substantially its operations with the result that it will retain a substantial number of new employees, and, WHEREAS, Weltek, Inc. proposes to acquire a pracel of real estate located in Phase III of the Airport Industrial Park in the City of South Bend, the same being Lot l in Block 4 of said Phase III, and to construct thereon an industrial facility consisting of some 16,000 square feet and, WHEREAS, to induce Weltek, Inc., or its assigns, to become the principal user of such Economic Development Facilities, the Common Council of the City of South Bend desires to adopt this resolution and WHEREAS, it is apparent that the development of the Weltek, Inc. Project will increase job opportunities and commercial diversification in South Bend, Indiana, resulting in benefit to the welfare of the public in the City of South Bend, Indiana, and in St. Joseph Couty, Indiana. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION 1. That approval is hereby given to the application of Weltek, Inc. relating to the acquisition of such real estate and the construction of an industrial facility thereon, wherein Industrial Revenue Bonds would be issued by the City of South Bend, Indiana for an amoun not exceeding $550,000.00 repayable with interest thereon over a period of time and with a maturity date which does not extend beyond thirty (30) years after the issue date. SECTION 2. In order to encourage, induce and solicit such application by Weltek, Inc., for such Industrial Revenue Bond issue relating to the acquisition and construction of such Economic Development Facilities, the South. Bend Ecnomic Development Commission on behalf of the City of South Bend, Indiana shall proceed to cooperate with and take such action as may be necessary in the drafting of documents or the performance of such other acts as will facilitate the issuance of such Industrial Revenue Bonds by the City of South Bend, Indiana, to provide funds to be used toward the payment of the costs for the acquisition and construction of such Economic Development Facilities. SECTION 3. Any costs or expenses incurred in connection with said Weltek, Inc. Project shall be included in the project costs and reimbursed from the proceeds of the Industrial Revenue Bonds to be issued with respect thereto. SECTION 4. This resolution shall be in full force and effect from and after its passage by the Common Council of the City of South Bend and approval by the Mayor. /s /Mary Christine Adams Member of the Common Council A public hearing was.held on the resolution at this time. Mr. Kenneth Fedder, attorney for the Economic Development Commission, indicated this resolution was for a $550,000 industrial revenue bond issue for the acquisition and construction of a facility in the Industrial Park He indicated this would return to the Council in ordinance form, if approved by the Commission. Council Member Serge made a motion to adopt this resolution, seconded by Council Member Miller. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 693 -79 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, AUTHORIZING THE MAYOR TO SUBMIT TO THE INDIANA DEPARTMENT OF SOCIAL SERVICES AN APPLICATION FOR FUNDS UNDER TITLE XX OF THE SOCIAL SECURITY ACT OF 1936, AS AMENDED. WHEREAS, the Mayor of the City of South Bend is the Chief Executive Officer of the City, and is the applicant for the Title XX Application under Title XX of the Social Security Act of 1936, as amended. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana: SECTION I. That it hereby establishes the authority of the Mayor of the City of South Bend to submit an application for Title XX funds in the amount of $9,084.00 to the Indiana Department of Public Welfare under Title XX of the Social Security Act of 1936, as amended for partial funding of the Runaway Shelter. SECTION II. That the Executive Director of the Youth Service Bureau shall be designated the Administrative Agent for this grant. That for every category established under this Resolution, the Mayor shall submit to the Common Council a line item budget in ordinance form, prior to the expenditure of any grant money received upon approval of this application. SECTION III. That this resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s /Mary Christine Adams Member of the Common Council