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WHEREAS, because the Act lacks a specific process for the disposition of personal <br />property, the Commission desires to follow as closely as possible the provisions of Indiana Code <br />36- 7 -14 -22 to dispose of the Equipment, including the preparation by the Commission of an <br />offering sheet showing the equipment to be offered and the offering prices (the "Offering Sheet'); <br />and <br />WHEREAS, the Commission hereby determines that the fair market value of the <br />Equipment based upon estimates of the cost of the Equipment received by the Commission is <br />$138,000; and <br />WHEREAS, the Commission now desires to approve the form of the Offering <br />Sheet for the Equipment in the form contained at Exhibit A; and <br />WHEREAS, the Commission desires to enter into a Temporary Use Agreement <br />(the "Use Agreement') to permit F Cubed to use the Equipment once it becomes available <br />following the completion of the Bidding Process and prior to disposition of the Equipment by the <br />Commission; <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />The Commission hereby approves the form of the Offering Sheet for the <br />Equipment in the form contained at Exhibit A. <br />2. The Commission hereby authorizes the publication of a notice of public <br />offering pursuant to Indiana Code 5 -3 -1 and Indiana Code 36- 4- 14- 22(d). <br />3. The Commission hereby approves of the form of the Use Agreement <br />contained at Exhibit B and authorizes the officers of the Commission (the "Officers ") to execute <br />-3- <br />DMS_US 51065232v2 <br />