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Section 5. The Issuer hereby elects to have the pro- <br />visions as to the limit in Section 103(b)(6)(D) of the Internal <br />Revenue Code of 1954, as amended, apply to the Bonds; and the <br />Mayor and the City Clerk of the Issuer be and they are hereby <br />authorized, empowered and directed to take any and all further <br />action which may be required to implement and effectuate such <br />election, including without limitation the preparation and filing <br />of such statement or statements or other document or documents <br />as may be deemed by them to be necessary or advisable in order to <br />comply with the procedure set forth in Section 1.103- 10(b)(2)(vi) <br />of the Income Tax Regulations (26 CFR Part 1) under Section 103 of <br />the Internal Revenue Code of 1954, as amended, and all acts hereto- <br />fore taken by them in this connection are hereby ratified and con- <br />firmed. <br />Section 6. Resolution No. 7 -80 of the South Bend Economic <br />Development Commission <br />and the Common Council <br />the proposed financing <br />Revenue Bonds would be <br />City of South Bend and <br />visions of IC 18 -6 -4.5 <br />passed on April 8, 1980, is hereby approved; <br />of the City of South Bend hereby finds that <br />for the issuance of the Economic Development <br />of benefit to the health and welfare of the <br />that it complies with the purposes and pro- <br />, as amended and supplemented. <br />Section 7. This Ordinance shall be in full force and <br />effect from and after its passage by the Common Council and approved <br />by the Mayor. <br />1st READING %.57-,/a -j' <br />PUBLIC NEARING,S <br />2nd READING <br />NOT APPROVED <br />REFERRED <br />PASUD A <br />Member of the Common Council <br />-3- <br />I'VA Y 7 1980 <br />Irene Gagnon <br />CITY CLERK, SOUTH BEND, IND. <br />