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ratified action taken by the Secretary of the Commission to file <br /> with the Common Council of the City of South Bend (the "Common <br /> Council") an approving ordinance for the purposes of said Council's <br /> finding, prior to the Commission's execution of the lease, that the <br /> rental payments are fair and reasonable and that the use of the <br /> 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, and for purposes of approving the lease. <br /> The Common Council desires to approve said lease, <br /> pursuant to IC 36-7-14-25.2, which provides that any lease approved <br /> by a resolution of the Commission must be approved by an ordinance <br /> of the fiscal body of the unit. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br /> CITY OF SOUTH BEND: <br /> 1. That the Common Council finds that the rental payments, <br /> as approved by the Commission, are fair and reasonable, and further <br /> finds that the use of the Project throughout the term of the lease <br /> will serve the public purpose of the City of South Bend and is in <br /> the best interests of its residents. <br /> 2. The Common Council hereby approves said lease, as <br /> approved by the Commission, pursuant to IC 36-7-14-25.2, in <br /> substantially the form provided at this meeting and attached hereto <br /> as Exhibit "A. " The Common Council reserves the right to approve <br /> of the issuance of bonds by the Authority to finance the costs of <br /> the Project following completion of the actions necessary to <br /> finally secure approval of said lease. <br /> 3. This Ordinance shall be in full force and effect from <br /> and after passage by the Common Council and approval by the Mayor. <br /> COMMON COUNCIL OF THE CITY <br /> OF SOUTH BEND, INDIANA <br /> By: <br /> EE �c,c` u <br /> Memb r of he Common Council <br /> :geed only to provide an <br /> opportunity for public discussion <br /> sod Council action on the issue. <br /> rrrompola\sthbend\ballofam\lease\ordinanc;drf;11-3-93 <br /> Filed in Clerk's Office <br /> 1st READING /1- �' - 3 -2- NOV 3 1993 <br /> PUBLIC HEARING 11-,Pet -q3 <br /> 3rd READING I< _ ag c`383p,ND,IN, <br /> NOT APPROVED <br /> REFERRED <br /> PASSED I l - PA -- <br />