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the Clerk of the Common Council and such reports and comments have <br />been appropriately made to such Council; and <br />WHEREAS, the Commission has approved this form of ordinance <br />authorizing the execution of a lease and Indenture of Trust and Bonds, <br />and the issuance of economic development revenue bonds in accordance <br />therewith; and <br />WHEREAS, the Commission has transmitted this form of <br />ordinance to the City Clerk for the presentation to the Common Council; <br />and <br />WHEREAS, the City Clerk has published in a newspaper published <br />in South Bend, Indiana, a notice that such form of ordinance has been <br />filed with the City Clerk in accordance with the provisions of said <br />Municipal Economic Development Act of 1965, as amended; and <br />WHEREAS, the Common Council finds that the proposed develop- <br />ment will be of public benefit to the economic welfare of the City, <br />by tending to overcome the deficiencies previously found to exist <br />and that such benefit is greater than the costs of the public <br />facilities which would be required by the proposed project relating <br />to the Lessee. <br />NOW, THEREFORE, BE IT ORDAINED by the Common Council of <br />the City of South Bend, Indiana, that: <br />Section 1. Ordinance No. 5417 -72 is repealed effective <br />the date of the issuance of Bonds hereunder. <br />Section 2. The form and terms of the Lease, Indenture of <br />Trust, and Economic Development Revenue Bonds pertaining to the <br />facilities of the Lessee and the issuance of the economic development <br />revenue bonds pursuant thereto are hereby approved and adopted. <br />Section 3. Said forms of Lease, Indenture of Trust, and <br />Economic Development Revenue Bonds are hereby incorporated by <br />reference into this ordinance and said forms shall be inserted <br />into the minutes of the Common Council of South Bend, Indiana, and <br />shall be kept on file by the City Clerk. <br />-2- <br />