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Trust Indenture between the City and 1st Source Bank (the <br /> "Trustee") , and this Ordinance, presented to the Commission, <br /> and (v) recommending that this Council find that the proposed <br /> economic development revenue bond financing of such facilities <br /> will be of benefit to the health and welfare of the City and <br /> its citizens, and complies with the purposes and provisions of <br /> the Act, and that this Council adopt an ordinance approving <br /> such financing, <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL <br /> OF THE CITY OF SOUTH BEND, INDIANA, THAT: <br /> Section 1. This Council finds that the facilities <br /> described in said report and in the attached Lease Agreement <br /> are "economic development facilities" within the meaning of the <br /> Act, and that such facilities will not have an adverse competi- <br /> tive effect on any similar facilities already constructed or <br /> operating in or about the City. <br /> Section 2 . This Council further finds that the pro- <br /> posed economic development revenue bond financing of such <br /> facilities will be of benefit to the health and welfare of the <br /> City and its citizens. <br /> Section 3 . This Council further finds that the pro- <br /> posed economic development revenue bond financing of such <br /> facilities complies with the purposes and provisions of the Act. <br /> Section 4. This Council hereby approves the proposed <br /> economic development revenue bond financing of such facilities, <br /> including (i) the form and terms of the aforementioned Lease <br /> Agreement, related security documents, Economic Development <br /> Revenue Bond and Trust Indenture attached hereto and incorp- <br /> orated herein by reference (two (2) copies of which are on file <br /> in the Office of the Clerk of the City for public inspection) , <br /> (ii) the issuance and sale of said Economic Development Revenue <br /> Bond, (iii) the lease of the economic development facilities to <br />