Authorizing Economic Development Refunding Revenue Bonds Michiana Telecasting Corp

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to this Common Council, the issuance and sale of revenue bonds, the loan of the proceeds of the revenue bonds to Michiana Telecasting Corp. for the refunding of the 1981 Notes, the payment of the revenue bonds by the Note payments of Michiana Telecasting Corp. under the Loan Agreement and Note, and the guaranty of payment of principal and interest on the revenue bonds by University of Notre Dame du Lac under the Guaranty Agreement, complies with the purposes and provisions 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 2. The substantially final forms of the Loan Agreement, Note, Bond Purchase Agreement and Trust Indenture approved by the South Bend Economic Development Commission are hereby approved (herein collectively referred to as the "Financing Agreement" referred to in I.C. 36- 7 -12), and the substantially final forms of the Guaranty Agreement and Official Statement 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. Section 3. The City of South Bend shall issue its Economic Development Refunding Revenue Bonds (Michiana Telecasting Corp. Project), in the total principal amount not exceeding Three Million--- - - - - -- Dollars ($3,000,000.00) and maturing not later than 15 years from the date of the first principal payment, which in no event may exceed thirty (30) years, for the purpose of procuring funds to refund the - 2 -