Economic Development Revenue Bonds SDT Partnership

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ORDINANCE N0. 7186 -83 AN ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND TO ISSUE ITS ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1983 (SDT PARTNERSHIP - 1983 PROJECT) AND APPROVING OTHER ACTIONS IN RESPECT THERETO. STATEMENT OF PURPOSE AND INTENT The South Bend Economic Development Commission has rendered its Project Report for the SDT Partnership - 1983 Project regarding the financing of proposed economic development facilities for SDT Partnership - 1983 and the Area Plan Commission of St. Joseph County, Indiana has commented favorably thereon. The South Bend Economic Development Commission conducted a public hearing on April 25, 1983, and also adopted a Resolution on April 25, 1983, which Resolution has been transmitted hereto, finding that the financing of certain economic development facilities of SDT Partnership - 1983 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 competitive effect of the proposed facilities. 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 substantially final forms of and has transmitted for approval by the Common Council the Loan and Security Agreement, Note, Trust Indenture, Equipment Lease, Collateral Assignment of Equipment Lease and Rentals, Lessee's Consent and Agreement to Equipment Lease Assignment, Official Statement and Bond Purchase Agreement. NOW, THEREFORE, BE IT ORADINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, THAT: Section 1. It is hereby found that the financing of the economic development facilities referred to in the Loan and