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RESOLUTION NO. �3�D"t UFO <br />RESOLUTION OF THE SOUTH BEND <br />ECONOMIC DEVELOPMENT COMMISSION <br />BE IT RESOLVED BY THE SOUTH BEND ECONOMIC DEVELOPMENT <br />COMMISSION THAT.: <br />1. It finds that the•acquisition and construction of <br />the proposed economic development facilities described in the <br />Loan Agreement and Security Agreement between the City of South <br />Bend, Indiana (the "City ") and Automatic Molded Plastics, Inc., <br />an Indiana corporation (the "Company "), presented to this meeting <br />will not have an adverse competitive effect on any similar <br />facilities already constructed or operating in or about the City <br />E. <br />for the reason that there are no competing similar facilities in <br />the Company's market area or that such facilities will merely <br />enable the Company to maintain its competitive position vis -a -vis <br />similar facilities. <br />2. It further finds that the proposed economic devel- <br />opment revenue bond financing of such facilities will be of <br />benefit to the health and welfare of the City and its citizens. <br />3. It further finds that the proposed economic devel- <br />opment revenue bond financing of such facilities complies with <br />the purposes and provisions of Title 36, Article 7, Chapter 12, <br />of the Indiana Code, as amended (the "Act "). <br />4. This Commission hereby approves the economic <br />development revenue bond financing of such facilities, including <br />