Approving the financing by the City of South Bend of Economic Development Facilities for allied products corporation

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RESOLUTION NO. A RESOLUTION OF THE CITY OF SOUTIi BEND, INDIANA APPROVING THE FINANCING BY THE CITY OF SOUTH BEND, INDIANA OF ECONOMIC DEVELOPMENT FACILITIES FOR ALLIED PRODUCTS CORPORATION. WHEREAS, the South Bend Development Commission (the "Commission") acting pursuant to IC 19715 18-6-4-1 to 18-6-4-28, inclusive, as amended by IC 19715 18-6-4.5-1 to 18-6-4.5-28, inclusive (the "Act") has (1) adopted a resolution no. 11-73 finding that because of existing insufficient employment opportunities and insufficient diversification of industry, the economic welfare of the City of South Bend, Indiana (the "City") would be benefited by the acquisition and leasing to Allied Products Corporation of economic development facilities and (2) made a report with respect to such facilities of certain findings and determinations required by the Act; and WHEREAS, such report has been submitted to the President and Executive Director of the Area Plan Commission of St. Joseph County, Indiana and the President of the Board of Trustees of the South Bend Community School Corporation; and WHEREAS in response to such report written comments from said Plan Commission and School Corporation have been filed with the Commission; and WHEREAS, after giving notice in accordance with the Act, the Commission held a public hearing on the proposed financing and adopted a resolution finding the proposed financing complies with the Act, approving the financing and approving the form and terms of the economic development revenue bonds proposed to be issued by the City to pay a portion of the cost of such facilities, lease and indenture, which resolution and other instruments and informa- tion pertaining to the proposed financing have been transmitted to the Common Council of the City by the Secretary of the Commission; and