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expiration of the lease, 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 is hereby directed <br />to transmit to the South Bend Common Council a copy of this <br />Resolution and is authorized to file with said Common Council an <br />approving ordinance for the purpose of said Council's finding, <br />prior to execution of the lease, that the Rental Payments are fair <br />and reasonable and approving the lease. <br />4. The President, Vice President and Secretary of the <br />Commission, and each of them, is hereby authorized and directed to <br />file a petition for approval of execution of the lease with the <br />IL State Board of Tax Commissioners pursuant to IC 6 -1.1- 18.5 -8, <br />subsequent to passage of said approving ordinance of the Common <br />Council. <br />5. The President, Vice President and Secretary of this <br />Commission, and each of them, is hereby authorized and directed to <br />take all such further actions and to execute all such instruments <br />as are desirable to carry out the transactions contemplated by this <br />Resolution, in such form as the President, Vice President and <br />Secretary executing the same shall deem proper, to be evidenced by <br />the execution thereof. <br />6. This Resolution shall be in full force and effect <br />after its adoption by the Commission. <br />-3- <br />