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RESOLUTION NO. AF �- <br /> A RESOLUTION providing for the acquisition and con- <br /> struction of an economic development project and the <br /> leasing of the same to Marilyn Brown, Rael F. Brown, <br /> Shirley B. Waks and Beatrice L. Nevel , and St. Joseph <br /> Insurance Agency, Inc. , an Indiana corporation , doing <br /> business as St . Joseph-Brown Building Company , an <br /> Indiana general partnership; authorizing the issuance <br /> and confirming the sale of $995 ,000 principal amount <br /> of Economic Development Revenue Bonds , Series 1974 <br /> (One Plaza Place Building) , for the purpose of <br /> paying the cost of acquiring and constructing the <br /> economic development project and necessary expenses <br /> incidental thereto, authorizing the execution and <br /> delivery of an Indenture securing the bonds and pro- <br /> viding for the disbursement of a portion of the <br /> proceeds thereof; and prescribing other matters <br /> pertaining thereto. <br /> WHEREAS, the City of South Bend, Indiana ( "the City") has <br /> created the South Bend Economic Development Commission ( "the Com- <br /> mission") pursuant to the provisions of Chapter 4 . 5 of Article 6 <br /> of Title 18 of the Indiana Code of 1971 , as amended ( "the Act") ; <br /> and <br /> WHEREAS , by resolution the Commission has found that the <br /> financing of certain economic development facilities ( "the Project") <br /> to be located in the City complies with the purposes and provisions <br /> of the Act and has approved the financing, including the form and <br /> terms of the necessary documents ; and <br /> WHEREAS , said resolution has been transmitted by the Commis- <br /> sion to the Common Council of the City together with this form of <br /> city resolution; and <br /> WHEREAS, the City is authorized under the Act to acquire, own , <br /> lease and sell economic development facilities ; to issue revenue bonds <br /> secured by a mortgage on all or any part of the facilities and payable <br /> solely from the revenues derived from the leasing or other disposition <br /> 2 <br />