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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 /> 1. 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 />