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COMMISSION RESOLUTION NO.6- %f <br />WHEREAS, the City of South Bend, Indiana, still has in- <br />sufficient employment opportunities and insufficient diversification <br />of industries, which conditions are harmful to the prosperity, <br />economic stability and general welfare of the area and, if not <br />remedied, will be detrimental to the development of such area <br />and its environs; and <br />WHEREAS, H.T.W. PARTNERSHIP have filed an application with <br />the South Bend Economic Development Commission ( "Commission ") <br />to finance the acquisition of real estate and the construction <br />thereof of an industrial and commercial building which will <br />constitute economic development facilities resulting in a <br />substantial number of new jobs as well as other benefits; and <br />WHEREAS, the Commission has considered whether the proposed <br />facilities may have an adverse competitive effect on similar <br />facilities already constructed and operating in the City of <br />South Bend, Indiana; and <br />WHEREAS, Commission has prepared and placed on file a <br />report as specified in IC 18- 6- 4.5 -16, and has forwarded copies <br />thereof to the Chairman of the Area Plan Commission and to the <br />Superintendent of the School Corporation where the facilities will <br />be located, and has received favorable reports from each of them. <br />NOW, THEREFORE, the South Bend Economic Development Commission <br />at this meeting, being a public hearing on not less than five <br />(5) days notice on such proposed financing of such facilities, <br />does now find that the proposed financing complies with the <br />purposes and provisions of the applicable Indiana statutes <br />governing the issuance of Industrial Development Revenue Bonds <br />by the Commission; and <br />BE IT FURTHER RESOLVED, by the South Bend Economic Development <br />Commission that the proposed financing of the acquisition of the <br />involved real estate and erection of an industrial and commercial <br />building thereon, and the form and terms of the financing agreement <br />(Lease and Trust Indenture) and the Bonds in the principal amount <br />