Authorizing City Issue Economic Development Revenue Bonds (Mittler Supply Inc) $400,000.00

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revenue bond financing of such facilities complies with the purposes and provisions of the Act, (iv) approving the economic development revenue bond financing of such facilities, includ- ing the form and terms of the Supplemental Loan Agreement, Mortgage and Security Agreement between the Company and the City, the Series 1985 Promissory Notes from the Company to the City, the registered City of South Bend, Indiana, Economic Development Revenue Bonds, Series 1985 (Mittler Supply, Inc . Project) from the City to the bondholders , the Supplemental Trust Indenture between the City and Valley American Bank and Trust Company (the "Trustee" ) , and this Ordinance, presented to the Commission, and (v) recommending that this Council find that the proposed economic development revenue bond financing of such facilities will be of benefit to the health and welfare of the City and its citizens, and complies with the purposes and proisions of the Act, and that this Council adopt an ordi- nance approving such financing, NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, THAT: Section 1 . This Council finds that the facilities described in said report and in the attached Supplemental Loan Agreement, Mortgage and Security Agreement are "economic devel- opment facilities" within the meaning of the Act and that such facilities will not have an adverse competitive effect on any similar facilities already constructed or operating in or about the City. -2-