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BILL NO. <br />ORDINANCE NO. LLVJ_, e? <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF THE LOAN AGREEMENT, INDENTURE <br />OF TRUST, AND ECONOMIC DEVELOPMENT REVENUE BONDS, AND AUTHORIZING THE EXE- <br />CUTION THEREOF, AND APPROVING RESOLUTION OF THE SOUTH BEND ECONOMIC DEVELOP- <br />MENT COMMISSION RELATING TO THE LAWSON - FISHER ASSOCIATES PROJECT. <br />STATEMENT OF PURPOSE AND INTENT: <br />The Common Council of the City of South Bend, Indiana, heretofore <br />has created the South Bend Economic Development Commission, hereinafter <br />referred to as the "Commission" pursuant to the provisions of Indiana <br />Code 18- 6 -4.5, as amended, hereinafter referred to as the "Act "; and <br />Lawson - Fisher Associates, an Indiana professional engineering part- <br />nership, has filed an application with the Commission to finance certain <br />economic development facilities resulting in a substantial number of new <br />jobs as well as other benefits, and in connection therewith, the Commis- <br />sion has prepared and placed on file a report containing the subject mat- <br />ter as specified in Indiana Code 18- 6.4.5 -16 and has forwarded copies <br />thereof to the Area Plan Commission of St. Joseph County, Indiana, and <br />to the Superintendent of the South Bend Community School Corporation, <br />being the area in which the proposed facilities will be located and has <br />timely received favorable reports from each of them, and the Commission <br />held a public hearing on the proposed financing of such economic develop- <br />ment facilities in accordance with the Act after giving the required notice <br />as provided in the Act, and adopted a resolution finding that such proposed <br />financing complies with the purposes and provisions of all applicable <br />Indiana statutes governing the issuance of Economic Development Revenue <br />Bonds, including but not limited to the Act and approving the form and <br />terms of the Loan Agreement, Indenture of Trust, and Bonds, and further <br />approving this form of Ordinance authorizing the execution thereof, and <br />further finding that such economic development facilities will not have <br />an adverse competitive effect on similar facilities already constructed <br />and operating in the City of South Bend, Indiana. <br />NOW, THEREFORE, BE IT ORDAINED BY THE Common Council of the City of <br />South Bend, Indiana, that: <br />Section 1. The form and terms of the Loan Agreement, Indenture of <br />Trust, and Economic Development Revenue Bonds pertaining to Lawson - Fisher <br />