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