Authorizing Economic Development Refunding Revenue Bonds Michiana Telecasting Corp

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`tl3o -Sa ORDINANCE AUTHORIZING THE CITY OF SOUTH BEND TO ISSUE ITS "ECONOMIC DEVELOPMENT REFUNDING REVENUE BONDS (MICHIANA TELECASTING CORP. PROJECT)" AND APPROVING OTHER ACTIONS IN RESPECT THERETO STATEMENT OF PURPOSE OF INTENT The South Bend Economic Development Commission conducted a public hearing on November 5, 1982, and also adopted a Resolution on November 5, 1982, which Resolution has been transmitted hereto, finding that the refunding of the City of South Bend Economic Development Revenue Notes (Michiana Telecasting Corp. Project) dated as of April 1, 1981, issued for the financing of certain economic development facilities of Michiana Telecasting Corp. 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. 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 forms of and has transmitted for approval by the Common Council the Loan Agreement, Note, Trust Indenture, Guaranty Agreement and Offering Memorandum. BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, THAT: Section 1. It is hereby found that the refunding of the City of South Bend Economic Development Revenue Notes (Michiana Telecasting Corp. Project) dated as of April 1, 1981 (the 111981 Notes ") by the issuance of City of South Bend Economic Development Refunding Revenue Bonds (Michiana Telecasting Corp. Project) referred to in the Loan Agreement approved by the South Bend Economic Development Commission and presented