Issue its Economic Development Revenue Bonds (1818 Realty an Indiana Partnership Prohect $830,000.00

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ORDINANCE NO. % R AMENDED AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND, INDIANA (THE "CITY ") , TO ISSUE ITS "ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1984 (1818 REALTY, AN INDIANA PARTNERSHIP PROJECT) , IN THE AGGREGATE PRINCIPAL AMOUNT OF EIGHT HUNDRED THIRTY THOUSAND DOLLARS ($830,000.00) AND APPROVING WHEREAS, the City is a municipal corporation and po- litical subdivision of the State of Indiana, and by virtue of Title 36, Article 7, Chapter 12, of the Indiana Code, as amended (the "Act ") , is authorized and empowerd to adopt this Ordinance and to carry out its provisions; and WHEREAS, the South Bend Economic Development Commis- sion (the "Commission ") has rendered its report concerning the proposed financing of economic development facilities for 1818 Realty and the Area Plan Commission has commented favorably thereon; and WHEREAS, the Commission, after a public hearing held on September 21, 1984, has adopted a Resolution, which has been transmitted to this Council, (i) finding that the acquisition, expansion and construction by 1818 Realty (the "Company ") of the proposed economic development facilities described in said Report will not have an adverse competitive effect on any simi- lar facilities already constructed or operating in or about the City, (ii) further finding that the proposed economic develop- ment revenue bond financing of such facilities will be of bene- fit to the health and welfare of the City and its citizens, (iii) further finding that the proposed economic development revenue bond financing of such facilities complies with the purposes and provisions of the Act, (iv) approving the economic