Approving the finding of the South Bend Economic Development Commission with respect to the issuance of revenue bonds in amount not exceeding Five Hundred Thousand Dollars ($500,000)

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RESOLUTION NO.-.7413-9q RESOLUTION OF COMMON COUNCIL OF THE CITY OF SOUTH BEND A PROPOSAL FOR A GENERAL RESOLUTION approving the finding of the South Bend Economic Development Commission with respect to the issuance of revenue bonds in an amount not exceeding Five Hundred Thousand Dollars ($500,000) for financing the increased costs of certain economic development facilities to be under- taken by Express Freight Lines, Inc., and authorizing and committing the City to proceed with such project, subject to final action by this Council with respect to the terms and conditions of such financing and the obtaining of all approvals as may be required under IC 18- 6 -4.5. GENERAL RESOLUTION NO. December 17, 1979 WHEREAS, the City of South Bend, Indiana ( "City"), is authorized by IC 18 -6 -4.5 ( "Act ") to issue revenue bonds for the purpose of financing the acquisition, installation, and construction of economic development facilities; WHEREAS, the City has issued $1,000,000 of its Economic Development Mortgage Revenue Bonds (Express Freight Lines, Inc., Project) to finance a portion of the cost of a truck terminal and related facilities described in Exhibit A hereto to be located in St. Joseph County, Indiana (the "Project ") ; WHEREAS, Express Freight Lines, Inc., a Wisconsin corporation (the "Company "), now expects to incur increased costs in connection with the acquisition, installation and construction of the Project;