Approving Economic Development Revenue Bond Martin's Realty Co Project

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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 facilities complies with the purposes and provisions of the Act, (iv) approving the economic development revenue bond financing of such facilities, including the form and terms of the Loan Agreement, Mortgage and Security Agreement between the Company and the City, the Promissory Note from the Company to the City, the registered City of South Bend, Indiana, Economic Development Revenue Bonds, Series 1983 (Martin's Realty Co., an Indiana Partnership Project), the Trust Indenture between the City and Midwest Commerce Banking Corporation (the "Trustee "), the Letter of Credit from Arsenal Savings Association, F.A. to the Trustee, the Official Statement of the City and the Company relating to such Bonds, and this Ordinance, presented to the 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 provisions 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, -2-