$1,000,000 Economic Development Revenue Bonds Dayton-Hudson Corp

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the City, and TF &G, Inc. (the "Underwriter ") providing for the sale of the Bonds by the City to the Underwriter, (2) Indenture of Trust (the "Indenture ") dated as of October 1, 1981, between the City and The Indiana National Bank, Indianapolis, Indiana (the "Trustee "), containing a form of economic development revenue bond, (3) Loan Agreement (the "Loan Agreement ") dated as of October 1, 1981, between the City and the Borrower, including a form of Note from the Borrower to the City, which shall be endorsed to the Trustee, (4) Official Statement (the "Official Statement ") dated as of October 27, 1981, and (5) this Bond Ordinance. Section 2. Findings; Public Benefits. The Common Council of the City hereby finds and determines that the equipment and renovation comprising the Project to be acquired, constructed and installed with the proceeds of the Economic Development Revenue Bonds herein authorized are "economic development facilities" as that phrase is used in the Act; that acquisition, construction and installation of the Project will increase employment opportunities and increase diversification of economic development facilities in and near the City, will improve and promote the economic stability, development and welfare of the area in and near the City and will encourage and promote the expansion of industry, trade and commerce in the area in and near the City and the location of new enterprises in such area; and that the public benefits to be accomplished by this Bond Ordinance, in tending to overcome insufficient employment opportunities and insufficient diversification of industry, trade and commerce are greater than the cost of public services (as that phrase is defined in the Act) which will be required by the Project. Section 3. Authorization of Economic Development Revenue Bonds. In order to pay a portion of the cost of acquiring, construc- ting and developing the Project, there are hereby authorized to be -2-