Issue Economic Development Refunding Columbia Place Associates Project

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ORDINANCE. NO. 7238 -83 ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND TO ISSUE ITS "ECONOMIC DEVELOPMENT REFUNDING REVENUE BOND, SERIES 1983 (COLUMBIA PLACE ASSOCIATES PROJECT)" AND APPROVING OTHER ACTIONS IN RESPECT THERETO WHEREAS, the South Bend Economic Development Commission conducted a public hearing on August 5, 1983, and also adopted a resolution on August 5, 1983, which Resolution has been transmitted hereto, finding that the refunding of the City of South Bend, Indiana, Economic Development Revenue Bonds (Columbia Place Associates Project), Series 1981 dated as of May 1, 1981 (the "1981 Bonds "), and the financing of the completion of certain economic development facilities of . Columbia Place Associates complies with the purposes and provisions of I.C. 36 -7 -12 and that such refunding will be of benefit to the health and welfare of the City of South Bend and its citizens; 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 Mortgage and Security Agreement, Note, L•aan Agieemen and Pond Purchase Agreement, Teases and Assignment of Rents and Leases; now therefore, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA THAT: Section 1. The economic development facility ( "Project ") consists of the construction and acquisition of a two -story office building containing 29,000 square feet, located on an approximate 1.3 acre tract of land, located in the River Glen Office Park, South Bend, Indiana.