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IREGULXV. U \ •
<br />u_
<br />(REGULAR MEETING - RECONVENED (CONTINUED)
<br />WHEREAS, the Commission held a public hearing on the proposed financing of such
<br />facilities on May 3, 1974, after giving the required notice as provided for in Section
<br />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 limited
<br />to the forms and terms of the financing agreement consisting of the Lease and Trust
<br />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 Industrial Packaging Corporation will be
<br />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 Industrial Packaging Corporation under the Act be
<br />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 />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the
<br />South Bend Development Commission, indicated that, on May,3, 1974, the commission met and approved
<br />the resolution for the financing. He indicated that the new facility for Industrial Packaging
<br />would be located on the north side of Edison Road and the east side of the By- Pass. He stated that
<br />the company is moving from Mishawaka and expanding its facility.
<br />Councilman Parent made a motion that the resolution be adopted, seconded by Councilman Taylor. The
<br />resolution passed by a roll call vote of eight ayes (Councilmen Serge, Szymkowiak, Miller, Parent,
<br />Taylor, Horvath, Newburn and Nemeth) with Councilman Kopczynski absent.
<br />SOLUTION NO. 422 -74
<br />A RESOLUTION OF THE COMMON COUNCIL OF THE
<br />CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA,
<br />IN THE MATTER OF AMERICAN CHAIN & CABLE COMPANY,
<br />INC. OF SOUTH BEND, INDIANA.
<br />WHEREAS, the South Bend Development Commission has developed and filed with the
<br />Area Planning Commission of St. Joseph County and also with the South Bend Community
<br />School Corporation, being the school corporation with jurisdiction in the area, a
<br />"Report of City of South Bend Economic Development Commission Making Certain Estimates ",
<br />said report being with respect to the financing of certain economic development
<br />facilities for American Chain & Cable Company, Inc. at 1217 Walnut Street, South
<br />Bend, Indiana; and
<br />WHEREAS, the Area Planning Commission and the South Bend Community School
<br />Corporation have each filed written comments concerning said proposed plan and
<br />approving the same; and
<br />WHEREAS, the South Bend Development Commission has by resolution passed on
<br />May 17, 1974, approved the form of the documents representing the financing, those
<br />being the Lease Agreement Mortgage and Indenture of Trust, Guaranty Agreement, Under -
<br />writing Agreement and Preliminary Official Statement, in their then present form and
<br />subject to approval in their final form by the Development Commission and the Common
<br />Council of the City of South Bend, said resolution and form of preliminary official
<br />statement having been presented to the Common Council; and
<br />WHEREAS, the Underwriter, Goldman, Sachs & Co., and the Company, American Chain
<br />& Cable Company, Inc., desire to premarket the bonds in order to establish the interest
<br />rates, maturities and redemption features for the bonds and were so authorized to do so
<br />by the South Bend Development Commission by authorizing the distribution of the pre-
<br />liminary official statement;
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, that:
<br />1. The action of the South Bend Development Commission in authorizing the
<br />distribution of the preliminary official statement for purposes of premarketing the
<br />bonds is hereby ratified and approved.
<br />2. The financing of industrial facilities by the issuance and sale of revenue
<br />bonds of the City of South Bend, and the lease of the industrial facilities to
<br />American Chain & Cable Company, Inc. as tentatively approved by the South Bend
<br />Development Commission in its resolution of May 17, 1974, will be of benefit to the
<br />health or welfare of the City of South Bend.
<br />3. This resolution shall be in full force and effect from and after its passage
<br />and signing by the mayor.
<br />s/ Roger 0. Parent
<br />Councilman
<br />public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the
<br />outh Bend Development Commission, indicated that American Chain & Cable is a corporation out of
<br />onnecticut, and the commission has met and approved a preliminary resolution to premarket the
<br />onds in order to establish maturity rates, etc. He stated that it was anticipated that the final
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