Issue its Economic Development Revenue Bonds (Aquarius Project) $750,000.00

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ORDINANCE NO. 7y/d Z - ee7l AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY "), TO ISSUE ITS "ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1984 (AQUARIUS PROJECT)," IN THE AGGREGATE PRINCIPAL AMOUNT OF SEVEN HUNDRED FIFTY THOUSAND ($750,000.00) DOLLARS AND APPROVING AND AUTHORIZING CERTAIN ACTIONS WITH RESPECT THERETO. STATEMENT OF PURPOSE OF INTENT The CITY is a municipal corporation and political subdivision of the State of Indiana, and, by virtue of Title 35, Article 7, Chapter 12, of the Indiana Code, as amended (the "Act "), is authorized and empowered to adopt this Ordinance and carry out its provisions; and The South Bend Economic Development Commission (the "Commission ") has rendered its report concerning the proposed financing of economic development facilities for Aquarius Tool and Mold, Inc., and the Area Plan Commission and South Bend Community School Corp. have commented favorably thereon; and The Commission, after a public hearing held on November 16, 1984, has adopted a Resolution, which has been transmitted to this Council, (i) finding that the acquisition by Aquarius Tool and Mold, Inc. (the "Company ") of the proposed economic development facilities described in said Report will not have an adverse competitive effect on any similar facilities already constructed or operating in or about the CITY; (ii) further finding 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; (iii) further finding that the proposed economic development revenue bond financing of such