Issue Economic Development Refunding Columbia Place Associates Project

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Section 2. It is hereby found that the refunding of the 1981 Bonds by the issuance of City of South Bend Economic Development Refunding Revenue Bond, Series 1983 (Columbia Place Associates Project) referred to in the Loan Agreement and Bond Purchase Agreement approved by the South Bend Economic Com- mission and presented to this Common Council, the issuance and sale of revenue bonds, the loan of the proceeds of the revenue bonds to Columbia Place Associates for the refunding of the 1981 Bonds and the completion of the Project, the payment of the revenue bonds by the note payments of Columbia Place Associates under the Loan Agreement and Bond Purchase Agreement and Note, the leasing of the economic development facilities to various lessees under the Leases, and the securing of said bonds by the mortgaging of such facilities under the Mortgage and Security Agreement complies with the purposes and pro- visions 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 3. The substantially final forms of the Mortgage and Security Agreement, Note and Loan Agreement and.Bond Purchase Agreement approved by the South Bend Economic Develop- ment 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 forms of the Leases and the Assignment of Rents and Leases approved by the South Bend Economic Development Commission are 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. - 2 -