Approving and Consenting the issuance by St Joseph County, of its variable rate educational facilities revenue bonds, series 2007 (University of Nore Dame DU LAC Project) and certain economic Develoment Facilities

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RESOLUTION NO. 3 ~I ~ -O~ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA CONSENTING TO AND APPROVING THE ISSUANCE BY ST. JOSEPH COUNTY, INDIANA OF ITS VARIABLE RATE EDUCATIONAL FACILITIES REVENUE BONDS, SERIES 2007 (UNIVERSITY OF NOTRE DAME DU LAC PROJECT) AND ITS MUNICIPAL COMMERCIAL PAPER NOTES (UNIVERSITY OF NOTRE DAME DU LAC) IN CONNECTION WITH THE FINANCING OF CERTAIN ECONOMIC DEVELOPMENT FACILITIES WHEREAS, the City of South Bend, Indiana (the "City"), is a municipal corporation and political subdivision of the State of Indiana and by virtue of Ind. Code § 36-7-12-22(b) is authorized and empowered to adopt this Resolution; and WHEREAS, the University of Notre Dame du Lac, an Indiana non-profit corporation (the "University"), desires to undertake certain projects consisting of (i) construction of an addition to the Mason Support Services Center, (ii) renovation and improvements to laboratory facilities within Nieuwland Science Hall, (iii) general construction and renovation projects, including construction andlor renovation of and improvements to residence halls, athletic, academic, and student service facilities, security facilities, utility facilities and infrastructure, and improvements to roads, walkways and parking lots, including site improvements and landscaping, (iv) refunding of all or a portion of certain bonds (A) designated as Indiana Educational Facilities Authority Educational Facilities Refunding Revenue Bonds, Series 1997 (University of Notre Dame du Lac Project) (the "IEFA Series 1997 Bonds") and (B) designated as St. Joseph County, Indiana Educational Facilities Revenue Bonds, Series 1997 (University of Notre Dame du Lac Project) (the "County Series 1997 Bonds"), the proceeds of which IEFA Series 1997 Bonds and County Series 1997 Bonds were each used to finance or refinance educational facilities for the University located on its campus which are owned and operated by the University, and (v) the acquisition, construction, expansion, renovation or equipping of any other educational facilities for the University (collectively, the "Project"); and WHEREAS, the University has requested that St. Joseph County, Indiana (the "County") issue, sell and deliver its Variable Rate Educational Facilities Revenue Bonds, Series 2007 (iniversity of Notre Dame du Lac Project) in an aggregate principal amount not to exceed $80,000,000 (the "Bonds"), and to issue, sell and deliver its Municipal Commercial Paper Notes (University of Notre Dame du Lac), in an aggregate principal amount of not to exceed $200,000,000 (the "Notes"); and WHEREAS, Ind. Code § 36-7-12-22(b), provides in relevant part that "economic development facilities that are located inside the corporate boundaries of a municipality may not be financed by a county without the consent of the fiscal body of the municipality;" and