Authorizing the execution of an agreement with ABS Industries, Inc., or any subsidiary thereof, relating to the aquisition, construction and installation of economic development facilities

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AGREEMENT THIS AGREEMENT, entered into as of the day of April, 1979, between the City of South Bend, Indiana, in the County of St. Joseph and State of Indiana, a municipality and political subdivision of the State of Indiana, organized and existing under the Constitu- tion and laws of the State of Indiana (the "Issuer "), acting pursuant to resolution of the South Bend Economic Development Commission (the "Commission ") a department of development duly established by ordi- nancy of the Common Council of the City of South Bend, Indiana, pur- suant to Municipal Economic Development Act of 1965, as amended, Indiana Code of 1971, Title 18, Article 6, Chapter 4.5 (the "Act"), and acting pursuant to resolution of the Issuer's Common Council and ABS Industries, Inc., a corporation for profit organized under the laws of the State of Ohio or any subsidiary thereof (the "Company "), for the purpose of assisting in the reduction of insufficient employ- ment opportunities and insufficient diversification of industry, thereby improving the economic welfare of the City of South Bend, Indiana; WHEREAS, the Company desires to acquire, construct and install certain property (herein called the "Facility ") constituting an Economic Development Facility, as those terms are defined in the Act, within the boundaries of the City of South Bend, to be used as a hot forging press facility; and WHEREAS, the Company has evidenced a desire to finance such acquisition, construction and installation from the proceeds of Economic Development Revenue Bonds (_the "Bonds ") issued pursuant to the authority of the Act; and WHEREAS, such acquisition, construction and installation will provide additional employment and job opportunities within the Issuer together with diversification of industry and improve the economic welfare in the area of the Issuer and its people; and WHEREAS, it will be necessary under the provisions of the Act for the Common Council of the Issuer to conduct certain proceed- EXHIBIT "A"