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RESOLUTION NO. ~' ~ ~ ~~- -~ <br />A RESOLUTION OF THE SOUTH BEND ECONOMIC DEVELOPMENT <br />COMMISSION APPROVING OF THE ISSUANCE OF BONDS FOR THE <br />PURPOSE OF FINANCING ECONOMIC DEVELOPMENT PROJECTS <br />TO BE COMPLETED BY THE STANLEY CLARK SCHOOL, <br />INCORPORATED, MAKING CERTAIN FINDINGS RELATING TO THE <br />FINANCING OF SUCH ECONOMIC DEVELOPMENT PROJECTS, AND <br />APPROVING SUCH FINANCING AND THE FORMS OF THE <br />DOCUMENTS RELATED THERETO <br />WHEREAS, the South Bend Economic Development Commission <br />("Commission") is a commission operating and existing under and pursuant to the authority of <br />Indiana Code § 36-7-11.9 and Indiana Code § 36-7-12 (collectively, the "Act"); and <br />WHEREAS, the Commission is authorized by the Act (i) to investigate, study and <br />survey the need for job opportunities, industrial diversification, water services and pollution <br />control facilities in the City of South Bend, Indiana (the "City"); (ii) to recommend action to <br />improve or promote job opportunities, industrial diversification, water services and the <br />availability of pollution control facilities in the City; and (iii} to issue revenue bonds for the <br />financing of economic development facilities, the funds from said financing to be used for the <br />acquisition, development, construction, and equipping of said facilities, and said facilities to be <br />either sold, leased to, or directly owned by another person; and <br />WHEREAS, The Stanley Clark School, Incorporated, an Indiana nonprofit <br />corporation (the "Borrower"), has proposed undertaking (a)(i) the improvement, expansion, and <br />renovation of the educational facility commonly known as Fannin Hall to include four <br />kindergarten rooms, three preschool rooms, alarge-motor multipurpose room and an atelier; (ii) <br />the improvement, expansion and renovation of the educational and administrative facility <br />BDDBOI 4 ] 76671 v2 <br />