Issue Economic Development Revenue Bonds Synthetic Diamond Technology Inc

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equipping of such facilities, the payment of the revenue bonds by the note payments of Synthetic Diamond Technology, Inc. under the Loan and Security Agreement and Note, and the secur- ing of said bonds by the granting of security interests under the Loan and Security Agreement complies with the purposes and provisions of I.C. 36 -7 -12 and will be of benefit to the health and welfare of the City of South Bend and its citizens. Section 4. The substantially final forms of the Loan and Security Agreement, Note and Trust Indenture approved by the South Bend Economic Development Commission are hereby approved (herein collectively referred to as the "Financing Agreement" as defined to in I.C. 36- 7 -12), and the substantially final form of the official Statement approved by the South Bend Economic Development Commission is hereby approved, and all such documents shall be incorporated herein by reference and shall be inserted in the minutes of the Common Council and kept on file by the Clerk. In accordance with the provisions of I.C. 36- 1 -5 -4, two (2) copies of all such documents are on file in the office of the Clerk for public inspection. Section 5. The City of South Bend shall issue its Economic Development Revenue Bonds, Series 1983 (Synthetic Diamond Technology, Inc. Project), in the total principal amount not exceeding Four Million Six Hundred Eighty Thousand Dollars ($4,680,000) and maturing not later than seven years from the date of the first maturity and which in no event may exceed thirty (30) years, for the purpose of procuring funds to pay the costs of acquisition, construction and equipping of the - 3 -