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WHEREAS, a notice of public hearing rescheduling the <br />public hearing on the lease was published on April 17, 1992, <br />pursuant to IC 5 -3 -1; and <br />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 Two Hundred Twenty Thousand Dollars <br />($220,000) per year in semiannual installments beginning on the day <br />the Project is completed and ready for use, or January 28, 1993, <br />whichever is later, through expiration of the lease; <br />NOW, THEREFORE, BE IT RESOLVED, by this Commission as <br />follows: <br />1. The President or Vice President and Secretary of <br />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 Two <br />Hundred Twenty Thousand Dollars ($220,000) per year in semiannual <br />installments beginning on the day the Project is completed and <br />ready for use, or January 28, 1993, whichever is later, through <br />-2- <br />