Authorizing Economic Development Revenue Bonds Series 1984 (Automatic Project) $750,000.00

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(iv) approving the economic development revenue bond financing of such facilities, including the form and terms of the Loan Agreement and Security Agreement between the Company and the CITY, the election under I.R.C. §103(b)(6), the Promissory Note from the Company to the CITY, the registered City of South Bend, Indiana, Economic Development Revenue Bonds, Series 1984 (Automatic Project), from the CITY to the bondholders, the Trust Indenture between the CITY and Valley American Bank and Trust Company (the "Trustee ") and this Ordinance presented to 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 pro- visions of the Act, and that this Council adopt an ordinance 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 Loan Agreement and Security Agreement are "economic development 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. Section 2. This Council further finds 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. Section 3. This Council further finds that the proposed economic development revenue bond financing of such