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Two Hundred Twenty-Thousand Two Hundred Fourteen Dollars <br />($ 229, 214. 00) . <br />Section 5. The City appoints as registrar of the <br />Bonds, pursuant to IC 5 -7 -3 (a) (2) (B) , Skandinaviska Enskilda <br />Banken Corporation, New York, New York, a banking corporation <br />chartered under the laws of the State of New York, which bank <br />is purchasing the Bonds. <br />Section 6. The Mayor and City Clerk are authorized to <br />execute on behalf of the City financing statements and such <br />other certificates and documents deemed necessary to issue the <br />Bonds. <br />Section 7. Resolution No. 2 -83 of the South Bend Eco- <br />nomic Development Commission passed <br />on June <br />3, 1983, and <br />sup- <br />plemented and amended by Resolution <br />No. 2 -83(a) <br />of the Commis- <br />and supplemented. <br />sion passed on August 5, 1983, are <br />hereby <br />approved; and <br />the <br />Common Council hereby finds that the <br />proposed <br />financing for <br />the <br />issuance of the Bonds would be of <br />benefit <br />to the health <br />and <br />welfare of <br />the City and <br />that it <br />complies with the purposes and <br />provisions <br />of the Act, as <br />amended <br />and supplemented. <br />Section 8. The proposed economic development facili- <br />ties will not have an adverse competitive effect on other fa- <br />cilities already constructed or operating in the City of South <br />Bend, Indiana, for the reason that the facility to be financed <br />by the Bonds is not similar in nature or use to any other oper- <br />ation in South Bend, Indiana. <br />-4- <br />