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WHEREAS, on this date said public hearing has been held <br />and all interested parties have been provided the opportunity to <br />be heard at the hearing; and <br />WHEREAS, the Commission intends to pay rent to the <br />Authority (the "Rental Payments "), pursuant to the terms of the <br />lease, at a rate not to exceed Eight Hundred Ninety -Five Thousand <br />Dollars ($895,000) per year in semiannual installments beginning <br />on the day the Project is completed and ready for use, or <br />February 25, 1996, whichever is later, through expiration of the <br />lease; <br />NOW, THEREFORE, BE IT RESOLVED, by this Commission as <br />follows: <br />1. The President or Vice President and Secretary of <br />AK this Commission are hereby authorized and directed, on behalf of <br />the City of South Bend, to execute and deliver the lease in <br />substantially the form presented at this meeting with such changes <br />in form or substance as the President or Vice President of this <br />Commission shall approve, such approval to be conclusively <br />evidenced by the execution thereof. <br />2. The Rental Payments to be paid by the Commission, <br />pursuant to the terms of the lease, at a rate not to exceed Eight <br />Hundred Ninety -Five Thousand Dollars ($895,000) per year in <br />semiannual installments beginning on the day the Project is <br />+ completed and ready for use, or February 25, 1996, whichever is <br />later, through expiration of the lease, are fair and reasonable, <br />and the use of the Project throughout the term of the lease will <br />-2- <br />