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2. The rental payments to be paid by the Commission to <br />the Authority, pursuant to the terms of the lease, for the Hall of <br />Fame Portion in semiannual installments beginning on the day the <br />Hall of Fame Portion is completed and ready for use, or January 25, <br />1996, whichever is later, and for the Century Center portion in <br />semiannual installments beginning on the day the Century Center <br />Portion is completed and ready for use, or January 25, 1996, <br />whichever is later, the total of which annual rental payments shall <br />not exceed Three Million Eight Hundred Thousand and 00/100 Dollars <br />($3,800,000.00) per year, are fair and reasonable, and the use of <br />the Project throughout the term of the lease will serve the public <br />purpose of the City of South Bend and is in the best interests of <br />its residents. <br />3. The Secretary of the Commission (the "Secretary ") <br />is hereby directed to transmit to the South Bend Common Council a <br />copy of this Resolution and the Commission hereby approves and <br />ratifies action taken by the Secretary to file with said Common <br />Council an approving ordinance for the purpose of said Common <br />Council's finding, prior to execution of the lease, that the rental <br />payments provided therein are fair and reasonable and approving the <br />lease. <br />3 <br />