Issue Economic Development Revenue Bonds Synthetic Diamond Technology Inc

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7.4 a /41 ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND TO ISSUE ITS "ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1983 (SYNTHETIC DIAMOND TECHNOLOGY, INC. PROJECT)" AND APPROVING OTHER ACTIONS IN RESPECT THERETO WHEREAS, the South Bend Economic Development Commission has rendered its Project Report for the Synthetic Diamond Technology, Inc. Project regarding the financing of proposed economic development facilities for Synthetic Diamond Technology, Inc. and the Area Plan Commission of St. Joseph County, Indiana has commented favorably thereon; and WHEREAS, the South Bend Economic Development Commission conducted a public hearing on July 11, 1983, and also adopted a resolution on July 11, 1983, which Resolution has been trans- mitted hereto, finding that the financing of certain economic development facilities of Synthetic Diamond Technology, Inc. complies with the purposes and provisions of I.C. 36 -7 -12 and that such financing will be of benefit to the health and welfare of the City of South Bend and its citizens, and which Resolution includes special findings of fact as to the com- petitive effect of the proposed facilities; and WHEREAS, the South Bend Economic Development Commission has heretofore approved and recommended the adoption of this form of Ordinance by this Common Council and has approved the sub- stantially final forms of and has transmitted for approval by the Common Council the Loan and Security Agreement, Note, Trust Indenture and Official Statement; now therefore,