No. 0901 authorizing the execution of a lease for certain land and public improvements on behalf of the COSB and regarding other related matters

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I WHEREAS, on November 17, 1989, the Commission approved the proposed lease, scheduled a public hearing on the lease to be held on December 8, 1989 at 10:00 a.m. (local time), at the office of the Commission, and authorized the publication of a notice of public hearing on the lease pursuant to IC 5 -3 -1; and WHEREAS, on this date said public hearing has been held and all interested parties have been provided the opportunity to be heard at the hearing; and WHEREAS, the Commission intends to pay rent to the Authority (the "Rental Payments "), pursuant to the terms of the lease, at a rate not to exceed Seven Hundred Forty -Nine Thousand Dollars ($749,000) per year in semiannual installments beginning on the day the Project is completed and ready for use, or July 31, 1991, whichever is later, through expiration of the lease; NOW, THEREFORE, BE IT RESOLVED, by this Commission as follows: 1. The President or Vice President and Secretary of this Commission are hereby authorized and directed, on behalf of the City of South Bend, to execute and deliver the lease in substantially the form presented at this meeting with such changes in form or substance as the President or Vice President of this Commission shall approve, such approval to be conclusively evidenced by the execution thereof. 2. The Rental Payments to be paid by the Commission, pursuant to the terms of the lease, at a rate not to exceed Seven Hundred Forty -Nine Thousand Dollars ($749,000) per year in semiannual -2-