Approving the form and Terms of the Loan Agreement Economic Development Revunue Bonds Matthew R & Lynn H Dee Project

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ORDINANCE NO. 7„1-' ,/,?_ 8:::c AN ORDINANCE APPROVING THE FORM AND TERMS OF THE LOAN AGREEMENT, INDEN- TURE OF TRUST, AND ECONOMIC DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXECUTION THEREOF, AND APPROVING THE RESOLUTION OF THE SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION RELATING TO THE MATTHEW R. AND LYNN H. DEE PROJECT. STATEMENT OF PURPOSE AND INTENT: The Common Council of the City of South Bend, Indiana, heretofore has created the South Bend Economic Development Commission (hereinafter referred to as the "Commission") pursuant to the provisions of Indiana Code 36-7-12 , as amended (hereinafter referred to as the "Act") . Matthew R. and Lynn H. Dee filed an application with the Commis- sion to finance certain economic development facilities resulting in a substantial number of new jobs as well as other benefits, and in connection therewith, the Commission has prepared and placed on file a report containing the subject matter as specified in Section 23 of the Act and has forwarded copies thereof to the Chairman of the Area Plan Commission of St. Joseph County, Indiana, and to the Superintendent of the South Bend Community School Corporation, being the area in which the proposed facilities will be located, and has timely received favor- able reports from each of them, and the Commission held a public hearing on the proposed financing of such economic development facil- ities in accordance with the Act after giving the required notice as provided in the Act, and adopted a resolution finding that such proposed financing complies with the purposes and provisions of all applicable Indiana statutes governing the issuance of Economic De- velopment Revenue Bonds , including but not limited to the Act, and