Express Freight Lines Inc Economic Development Mortgage Revenue Bonds

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WHEREAS, the South Bend Economic Development Commission has rendered a Report of the South Bend Economic Development Commission concerning the proposed financing of the increased costs of the economic development facili- ties for Express Freight Lines, Inc., and the Director of the South Bend Area Plan Commission has been given an opportunity to comment thereon; WHEREAS, the St. Joseph County Council has con- sented to the South Bend Economic Development Commission and the City of South Bend to the financing of the increased costs of the economic development facilities for Express Freight Lines, Inc., by the issuance of City of South Bend, Indiana economic development revenue bonds; WHEREAS, the South Bend Economic Development Commission after a public hearing adopted a resolution, which resolution has been previously transmitted hereto, finding that the financing of the increased costs of the economic development facilities of Express Freight Lines, Inc., complies with the purposes and provisions of IC 18 -6 -4.5 and that such financing will be of benefit to the health, prosperity, economic stability and general welfare of the City of South Bend and St. Joseph County and their citizens; and WHEREAS, the South Bend Economic Development Commission has approved the final forms of the First Supplemental Loan Agreement, including the Series 1980 Note attached thereto, the First Supplemental Mortgage and Trust Indenture and the Bond Purchase Agreement by resolution, which resolution has been transmitted hereto; now therefore: BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: SECTION 1. It is hereby found that the financing of the increased costs of the economic development facilities -2-