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ORDINANCE NO. -1%'' -° <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF <br />LOAN AGREEMENT, MORTGAGE AND SECURITY AGREEMENT, <br />PROMISSORY NOTE, ECONOMIC DEVELOPMENT REVENUE BOND, <br />TRUST INDENTURE, LETTER OF CREDIT AND OFFICIAL STATEMENT <br />AND AUTHORIZING THE EXECUTION THEREOF AND APPROVING <br />RESOLUTION NO. 83-5 OF THE SOUTH BEND <br />ECONOMIC DEVELOPMENT COMMISSION RELATING <br />TO THE MARTIN'S REALTY CO. PROJECT <br />WHEREAS, the City of South Bend (the "City ") is a <br />municipal <br />corporation and <br />political <br />subdivision <br />of the State <br />of <br />Indiana, <br />and by virtue of <br />Title 35, <br />Article 7, <br />Chapter 12, <br />of <br />the Indiana Code, as amended (the "Act ") , is authorized and <br />empowerd to adopt this Ordinance and to carry out its provi- <br />sions; and <br />WHEREAS, the South Bend Economic Development Com- <br />mission <br />(the "Commission ") has prepared and <br />placed on file <br />a <br />report <br />containing the subject matter specified <br />in Section 23 <br />of <br />the Act, and the Area Plan Commission and Superintendent of the <br />School Corporation in the area in which the economic develop- <br />ment facilities will be located have commented favorably there- <br />on; and <br />WHEREAS, the Commission, after a public hearing held <br />on November 18, 1983, has adopted a Resolution, which has been <br />transmitted to this Council, (i) finding that the acquisition <br />and construction, and equipping by Martin's Realty Co., an <br />Indiana Partnership, (the "Company "), of the proposed economic <br />development facilities described in said Report will not have <br />an adverse competitive effect on any similar facilities already <br />