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WHEREAS, the Company has evidenced a desire to finance <br />such additional acquisition, construction anO installation <br />from the proceeds of additional Economic Development Revenue <br />Bonds (the "Series 1980 Bonds ") issued pursuant to the <br />authority of the F..ct; and <br />WHEREAS, such additional acquisition, construction and <br />installation will provide additional employment and job <br />opportunities within the Issuer together with diversification <br />of industry and improve the economic welfare in the area of <br />the Issuer and its people; and <br />WHEREAS, it will be necessary under the provisions of <br />the Act for the Common Council of the Issuer to conduct <br />certain proceedings and adopt certain legislation prior to <br />the issuance of the Series 1980 Bonds; and <br />WHEREAS, it is the desire of the Issuer_ that the increased. <br />number of jobs and employment opportunity and diversification <br />of industry resulting from the Facility be provided at the <br />earliest date possible and that the benefit to the economic <br />welfare in the area of the Issuer produced by such additional <br />acquisition, construction and installation occur at the <br />earliest possible time; <br />W I T N E S S E T H: <br />1. The Company shall immediately commence the acquisi- <br />tion, construction and installation of the Facility, which <br />will improve the economic welfare of the Issuer and State of <br />Indiana, as well as provide additional jobs and employment <br />opportunities and diversification of industry and the Company <br />will provide, or cause to be provided, at its own expense, <br />the necessary interim financing to permit such additional <br />acquisition, construction and installation to commence <br />immediately. Upon the issuance of the Series 1980 Bonds, <br />