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n'e <br />RESOLUTION NO_ <br />EXHIBIT /4 " <br />RESOLUTION MAKING CERTAIN FINDINGS AND DETER - <br />MINATIONS WITH RESPECT TO A PROPOSED FINANCING <br />PLAN OF THE BEACON HEIGHTS HOUSING DEVELOPMENT <br />CORPORATION, AN INDIANA NOT -FOR- PROFIT CORPORA- <br />TION, AND CONSENTING TO THE DETERMINATION TO <br />BE MADE BY THE UNITED STATES DEPARTMENT OF <br />EOUSING AND URBAN DEVELOPMENT THAT SAID COR- <br />PORATION CONSTITU'T'ES AN INSTRUMENTALITY OF A <br />PUBLIC HOUSING AGENCY SOLELY WITHIN THE MEANING _ <br />Oa SECTION 3 (6) OF THE UNITED STATES H.OUS ING <br />AC:�: OF 1937, AS AMENDED; APPROVING CERTAIN <br />DC`_<U ENTS RELATING THERETO.. <br />` HE.?.r_AS, a serious shortage of decent, safe and sanitary <br />housing for persons and families exists in the City of South <br />Bend, Indiana (the "City") and The Housing Authority of tie <br />City of South Bend, Indiana (the "Authority') desires to <br />cause to be provided decent, safe and sanitary housing for <br />persons and families in the City; and <br />g+'FsEAS, the Beacon Heights Housing Development Corpora- <br />tion (the "Corporation ") will be formed by public - spirited <br />citizens _under the Indiana Not -for- profit Corporation Act <br />( the "Act") , to engage in or assist in carrying out (includ- <br />ing assistance by borrowing and lending funds) the acquisi- <br />tion, construction or rehabilitation, and equipping of hous- <br />ing projects for low imome persons pursuant to Section ° of <br />the United States Housing Act of 1937, as amended (the "Hous- <br />ing Act ") which may be insured pursuant to the National <br />Eousinc Act of 1934, as amended; and <br />WH=R 1AS, under the Act <br />of the Corporation, the Cor <br />to borrow money through the <br />other fo=s of indebtedness <br />duly authorized to loan the <br />order to further the public <br />tion will be formed; and <br />and the Articles of Incorporation <br />poration will be duly authorized <br />issuance of notes, bonds, or <br />of the Corporation and will be <br />proceeds of such borrowing in <br />purposes for which the Corpora- <br />WHEREAS, the Corporation will propose to provide for the <br />interim construction loan financing and permanent mortgage <br />financing for the acquisition, construction and equipping of <br />