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WHEREAS, the South Bend Economic Development Commission <br />has approved this form of ordinance authorizing the execution <br />of a Lease and Trust Indenture and Bonds, and the issuance <br />of economic development revenue bonds in accordance therewith, <br />and <br />WHEREAS, the South Bend Economic Development Commission <br />has transmitted this form of ordinance to the City Clerk of <br />South Bend, Indiana, for the presentation to the Common Council <br />of South Bend, Indiana, and <br />WHEREAS, the City Clerk of South Bend, Indiana, has <br />published once in a newspaper published in South Bend, Indiana, <br />a notice that such form of ordinance has been filed with the <br />Clerk in accordance with the provisions of said Municipal <br />Economic Development Act of 1965, as amended, and <br />WHEREAS, the Common Council of South Bend, Indiana, finds <br />that the proposed development will be of public benefit to the <br />economic welfare of the City of South Bend, Indiana, by tending <br />to overcome the deficiencies previously found to exist and that <br />such benefit is greater than the costs of the public facility <br />which would be required by the proposed project relating to <br />Metalstamp, Inc. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of <br />the City of South Bend, Indiana, that: <br />Section 1. The form and terms of the Lease and Trust <br />Indenture and Economic Development Revenue Bonds as amended at <br />this meeting pertaining to Metalstamp, Inc., facilities and <br />the issuance of the economic development revenue bonds pursuant <br />thereto are hereby approved and adopted. <br />Section 2. Said forms of Lease and Trust Indenture and <br />Economic Development Revenue Bonds as amended at this meeting <br />are hereby incorporated by reference into this ordinance and <br />said forms shall be inserted into the minutes of the Common <br />-2- <br />