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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WHEREAS, the Common Council of the City (the "Common Council"), the fiscal body of the municipality in which a portion of the Project is to be located, desires to consent to the financing of the Project by the County through the issuance of the Bonds and Notes, pursuant to Ind. Code § 36-7-12-22(b); and WHEREAS, the St. Joseph County Economic Development Commission (the "Commission"), has conducted a public hearing (the "Public Hearing") with respect to the proposed issuance of the Bonds and Notes on behalf of (i) itself, (ii) the County, and (iii) the City; and WHEREAS, the Common Council has been presented with copies of the legal notice of the Public Hearing, together with a copies of the Resolution and Report of the Commission pertaining to the issuance of the Bonds and Notes, and the proposed Ordinance to be adopted by the County authorizing the issuance of the Bonds and Notes; and WHEREAS, the Common Council, being duly advised, finds that it is in the best interests of the City and its citizens to approve the issuance of the Bonds and Notes, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"). NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, THAT: Section 1. The Common Council of the City hereby consents, pursuant to the provisions of Ind. Code § 36-7-12-22(b), to the financing of the Project by the County and its Economic Development Commission, and having jurisdiction with respect to a portion thereof hereby transfers such jurisdiction to the County. Section 2. The Common Council of the City, the elected fiscal body of the governmental unit having jurisdiction over the area in which a portion of the Project to be financed with the proceeds of the Bonds and/or Notes is located, after a public hearing following reasonable notice, hereby approves the authorization, execution, issuance and delivery of the Bonds and Notes by the County, as required by Section 147(f) of the Code. Section 3. This Resolution shall be in full force and effect immediately upon its adoption by the Common Council. SBDS02 PFACCENDA 364730v1 PRESENTED L ~ _ (~--0~ ,~ ~- Member e Common Council NOT APPROVED 2 ADOPTED ~ ~ -1 Z- ~ 7 P~OV - 7 2:).:J. CITY CS_1=fdY, ~G. E£1tiD, tR