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constructed or operating in or about the City, (ii) further <br />finding that the proposed economic development revenue bond <br />financing of such facility will be of benefit to the health and <br />welfare of the City and its citizens, (iii) further finding <br />that the proposed economic development revenue bond financing <br />of such facility complies with the purposes and provisions of <br />the Act, (iv) further finding that the facility is located in <br />an economic development target area of the City, (v) approving <br />the economic development revenue bond financing of such facil- <br />ity, including the form and terms of the Loan Agreement, Mort- <br />gage and Security Agreement between the Company and the City, <br />the Promissory Note from the Company to the City, the regis- <br />tered City of South Bend, Indiana, Economic Development Revenue <br />Bonds, Series 1983 (Jefferson Boulevard Partnership Project), <br />the Trust Indenture between the City and lst Source Bank (the <br />"Trustee "), the Letter of Credit from lst Source Bank to the <br />Trustee and this Ordinance, presented to the Commission, and <br />(vi) recommending that this Council find that the proposed eco- <br />nomic development revenue bond financing of such facility will <br />be of benefit to the health and welfare of the City and its <br />citizens, and complies with the purposes and provisions of the <br />Act, and that this Council adopt an ordinance approving such <br />financing, <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL <br />OF THE CITY OF SOUTH BEND, INDIANA, THAT: <br />Section 1. This Council finds that the facility <br />described in said Report and in the attached Loan Agreement, <br />-2- <br />