Authorizing issuance of its "variable rate Economic Development Revenue Bonds, Series 2001 not to exceed $2,000,000

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Section 2. The proposed financing of the Project for the Corporation and the substantially final forms of the Financing Documents relating to the issuance and sale of bonds in an aggregate principal amount not to exceed Two Million and 00/100 Dollars ($2,000,000.00) designated as "City of South Bend, Indiana, Variable Rate Economic Development Revenue Bonds, Series 2001 (Goodwill Industries of Michiana, Inc. Project)" for such financing and the form of authorizing ordinance (the "Ordinance") of the Common Council, all as presented to this meeting, are hereby approved. Section 3. The Mayor and the Clerk of the City are authorized to make such changes in the Financing Documents without the subsequent approval of this Commission or of the Common Council as are necessary or appropriate to effect the intent of this Resolution and as are permissible under the Act, all to be evidenced by the execution of the Financing Documents by the Mayor and the Clerk. Section 4. The Commission has held a hearing open to the public and has subsequently considered whether the Project will have an adverse effect on any similar facilities already constructed and operating in or about the City, and makes the following special findings of fact based upon the evidence presented: a. No member of the public or competitor has presented any evidence of any kind establishing that the Project would have any adverse competitive effect in any respect. b. In the absence of any evidence of any adverse competitive effect, the benefits to the public clearly indicate that the Project should be supported by the issuance of the City's Variable Rate Economic Development Revenue Bonds, Series 2001. Section 5. The Report of the Commission and the filing thereof is hereby approved and ratified. -3- :ODMA\PCDOCS\SBDOCS 1\83548\ 1