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from an issue of revenue bonds of the Economic Development Commission <br /> of the City of South Bend to be signed by its Mayor and by its City <br /> Clerk and further desires to enter into a lease of not to exceed <br /> 20 years duration to be known as a net net net lease sufficient <br /> to pay the principal and interest of these bonds and obtain title <br /> at the end of the lease, and <br /> WHEREAS, by virtue of the net net net lease, the <br /> Hoffman Bros . Sales & Service, Inc. , and/or Auto Electric <br /> Warehousing, Inc. , indicates its intention to pay all expenses <br /> of the operation, maintenance , insurance, property taxes , whatever, <br /> of the facility. <br /> THEREFORE, be it resolved by the Common Council of the <br /> City of South Bend, Indiana, that the resolution and findings <br /> of the Economic Development Commission pertaining to this project <br /> be approved and incorporated in this resolution, and <br /> THEREFORE, be it resolved by the Common Council of the <br /> City of South Bend, Indiana, that the statement of public service <br /> on the part of the Economic Development Commission, of the Area <br /> Plan Commission and of the South Bend School Corporation be <br /> accepted and approved, and <br /> THEREFORE, be it resolved that the South Bend City <br /> Common Council authorize the Economic Development Commission <br /> of the City of South Bend to proceed to make preliminary agreements <br /> with the proposed lessee, Hoffman Bros . Sales & Service , Inc. , and/or <br /> Auto Electric Warehousing, Inc. , in the nature of a conditional <br /> commitment to enter into a lease with Hoffman Bros . Sales & Service, <br /> Inc. , and/or Auto Electric Warehousing, Inc. , and <br /> THEREFORE, be it resolved that the Economic Development <br /> Commission of the City of South Bend shall, as soon as the new <br /> lease form is properly prepared, submit the same to the Clerk of <br /> the City of South Bend to be prepared by a member of theCommon <br /> Council as a proposed ordinance for the acceptance of same and <br /> issuance of revenue bonds to cover the amount of money needed. <br /> i <br /> Me mb r South Bend City Common Council <br />