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fair and reasonable and that the use of the Project throughout the <br />term <br />of the <br />Lease <br />will <br />serve <br />the <br />public <br />purpose of the <br />City <br />of <br />South <br />Bend <br />(the <br />"City ") <br />and <br />is <br />in the <br />best interests <br />of <br />its <br />residents; and <br />WHEREAS, the Common Council at a meeting on November 29, <br />1993, and after a public hearing, adopted Ordinance No. 8437 -93 <br />approving the Lease; and <br />WHEREAS, the State Board of Tax Commissioners issued its <br />order dated November 24, 1993, approving of the execution of the <br />Lease, upon which the Authority and Commission executed and <br />published notice of execution of the Lease; and <br />WHEREAS, no objecting petition was filed with the County <br />Ce Auditor following the publication of such notice of execution of <br />the Lease within thirty (30) days as permitted by I.C. <br />36 -7 -14 -25.2; and <br />WHEREAS, the Commission desires to approve of the <br />issuance of lease rental revenue bonds (the "Bonds ") by the <br />Authority in an amount sufficient to complete the Project and <br />recommend to the Common Council that the Common Council adopt an <br />ordinance approving of the issuance of the Bonds; <br />NOW THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AS FOLLOWS: <br />1. The Commission approves of the issuance of the Bonds <br />by the Authority to complete the Project. <br />N <br />