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REGULAR MEETING NOVEMBER 12, 2007
<br />RESOLUTION NO. 3811-07 A RESOLUTION OF THE COMMON COUNCIL
<br />OF THE CITY OF SOUTH BEND, INDIANA
<br />CONSENTING TO AND APPROVING THE
<br />ISSUANCE OF BY ST. JOSEPH COUNTY,
<br />INDIANA OF ITS VARIABLE RATE
<br />EDUCATION FACILITIES REVENUE BONDS,
<br />SERIES 2007 (UNIVERSITY OF NOTRE DAME
<br />DU LAC PROJECT) AND ITS MUNICIPAL
<br />COMMERCIAL PAPER NOTES (UNIVERSITY
<br />OF NOTRE DAME DU LAC) IN CONNECTION
<br />WITH THE FINANCING OF CERTAIN
<br />ECONOMIC DEVELOPMENT FACILITIES
<br />WHEREAS, the City of South Bend, Indiana (the "City"), is a municipal
<br />corporation and political subdivision of the State of Indiana and by virtue of Ind. Code
<br />§36-7-12-22(b) is authorized and empowered to adopt this Resolution; and
<br />WHEREAS, the University of Notre Dame du Lac, an Indiana non-profit
<br />corporation (the "University"), desires to undertake certain projects consisting of (i)
<br />construction of an addition to the Mason Support Services Center, (ii) renovation and
<br />improvements to laboratory facilities within Nieuwland Science Hall, (iii) general
<br />construction and renovation projects, including construction and or renovation of and
<br />improvements to residence halls, athletic, academic, and student service facilities,
<br />security facilities, utility facilities and infrastructure, and improvements to roads,
<br />walkways and parking lots, including site improvements and landscaping, (iv) refunding
<br />of all or a portion of certain bonds (A) designated as Indiana Educational Facilities
<br />Authority Educational Facilities Refunding Revenue Bonds, Series 1997 (University of
<br />Notre Dame du Lac Project) (the "County Series 1997 Bonds"), the proceeds of which
<br />IEFA Series 1997 Bonds and County Series 1997 Bonds were each used to finance or
<br />refinance educational facilities for the University located on its campus which are owned
<br />and operated by the University, and (v) the acquisition, construction, expansion,
<br />renovation or equipping of any other educational facilities for the University
<br />(collectively, the "Project"); and
<br />WHEREAS, the University has requested that St. Joseph County, Indiana (the
<br />"County") issue, sell and deliver its Variable Rate Educational Facilities Revenue Bonds,
<br />Series 2007 (University of Notre Dame du Lac Project) in an aggregate principal amount
<br />not to exceed $80,000,000 (the "Bonds"), and to issue, sell and deliver its Municipal
<br />Commercial Paper Notes (University of Notre Dame du Lac), in an aggregate principal
<br />amount of not to exceed $200,000,000 (the "Notes"); and
<br />WHEREAS, Ind. Code §36-7-12-22(b), provides in relevant part that "economic
<br />development facilities that are located inside the corporate boundaries of a municipality
<br />may not be financed by a county without the consent of the fiscal body of the
<br />municipality," and
<br />WHEREAS, the Common Council of the City (the "Common Council"), the
<br />fiscal body of the municipality in which a portion of the Project is to be located, desires
<br />to consent to the financing of the Project by the County through the issuance of the Bonds
<br />and Notes, pursuant to Ind. Code §and
<br />WHEREAS, the St. Joseph County Economic Development Commission (the
<br />"Commission") has conducted a public hearing (the "Public Hearing") with respect to the
<br />proposed issuance of the Bonds and Notes on behalf of (i) itself, (ii) the County, and (iii)
<br />the City; and
<br />WHEREAS, the Common Council has been presented with copies of the legal
<br />notice of the Public Hearing, together with a copies of the Resolution and Report of the
<br />Commission pertaining to the issuance of the Bonds and Notes, and the proposed
<br />Ordinance to be adopted by the County authorizing the issuance of the Bonds and Notes;
<br />and
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