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ORDINANCE NO. -7q(01 - 6,--, <br /> AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND, <br /> INDIANA (THE "CITY" ) , TO ISSUE ITS "ECONOMIC <br /> DEVELOPMENT REVENUE BOND, SERIES 1985 <br /> (3300 SAMPLE STREET ASSOCIATES, <br /> AN INDIANA PARTNERSHIP, PROJECT) , <br /> IN THE AGGREGATE PRINCIPAL AMOUNT OF <br /> TWO MILLION DOLLARS ($2,000,000 . 00) AND APPROVING <br /> AND AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO. <br /> WHEREAS, the City is a municipal corporation and poli- <br /> tical subdivision of the State of Indiana, and by virtue of <br /> Title 35, Article 7, Chapter 12, of the Indiana Code, as <br /> amended (the "Act" ) , is authorized and empowerd to adopt this <br /> Ordinance and to carry out its provisions; and <br /> WHEREAS, the South Bend Economic Development Commis- <br /> sion (the "Commission" ) has rendered its report concerning the <br /> proposed financing of economic development facilities for 3300 <br /> Sample Street Associates, an Indiana partnership (the "Com- <br /> pany" ) and the Area Plan Commission has commented favorably <br /> thereon; and <br /> WHEREAS, the Commission, after a public hearing held <br /> on May 3 , 1985, has adopted a Resolution, which has been <br /> transmitted to this Council , ( i) finding that the acquisition <br /> and rehabilitation by the Company of the proposed economic <br /> development facilities described in said Report will not have <br /> an adverse competitive effect on any similar facilities already <br /> constructed or operating in or about the City, ( ii) further <br /> finding that the proposed economic development revenue bond <br /> financing of such facilities will be of benefit to the health <br />