Approving Economic Development Bonds - South Bend Forge Inc

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Project hereinafter identified and that the utilization of the property in the creation and location of the Series 1980 Project is economically sound, will promote employment opportunities within and affecting the Issuer, improve and benefit the health,. prosperity, economic stability and general welfare of the Issuer, and will encourage and promote the expansion of industry, trade and commerce within the Issuer and the State of Indiana. Section 2. Findings. The Legislative Authority hereby finds that the issuance of the Series 1980 Bonds for the purpose of financing the costs of said Series 1980 Project will be of benefit to the health, prosperity, economic stability and general welfare of the Issuer, by assisting in the reduction of the deficiency previously found to exist, to wit: insufficient employment opportunities. Section 3. Definitions. In this Series 1980 Bond Legislation and in the First Supplemental Indenture words and terms defined in the Original Bond Legislation and in the Original Indenture shall have the meanings therein prescribed unless the context otherwise indicates. The following terms shall have the meanings hereinbefore specified: Original Agreement Original Bond Legislation Original Indenture Original Mortgage In addition, the following words and terms as used in this Series 1980 Bond Legislation and in the First Supplemental Indenture shall have the following meanings unless the context or use clearly indicates another or different meaning or intent: "Bond Fund" means the Bond Fund created by Section 9 of the Original Bond Legislation. "First Supplemental Agreement" shall mean the First Supplemental Agreement, dated as of May 1, 1980, by and between the Issuer and the Company, amending and supplementing the Agreement. "First Supplemental Guaranty" means the First Supplemental Guaranty Agreement, dated as of May 1, 1980, between the Guarantor and the Trustee -5-