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publication of a notice of public hearing on said lease pursuant to Indiana Code § 5 -3 -1; and
<br />WHEREAS, a notice of public hearing on the Lease was published on January 16,
<br />2015, pursuant to Indiana Code 5 -3 -1 (the "Notice "); and
<br />WHEREAS, on January 29, 2015, the Commission conducted said public hearing
<br />and all interested parties were provided the opportunity to be heard at the hearing; and
<br />WHEREAS, the Commission, at its meeting on January 29, 2015, adopted
<br />Resolution No. 3273, finding, pursuant to the Act, that pursuant to the Lease, a copy of which is
<br />attached hereto as Exhibit A, the rental payments to be paid by the Commission to the Authority
<br />pursuant to said Lease, at a rate not to exceed One Million Nine Hundred Ninety Thousand and
<br />00 /100 Dollars ($1,990,000.00) per year, subject to reduction as set forth in the Lease, in
<br />semiannual installments beginning on the day the Project is complete and ready for use, or July 15,
<br />2017 (or such later date as may be set forth in the Lease), whichever is later, are fair and reasonable,
<br />and finding, pursuant to Section 25.2 of the Act, that the use of the Project throughout the term of
<br />the Lease, which term shall not exceed twenty -two (22 years) and is subject to reduction as set
<br />forth in the Lease, will serve the public purpose of the City, and is in the best interests of its
<br />residents; and
<br />WHEREAS, said Resolution No. 3273 further authorized the Secretary of the
<br />Commission to file with the Common Council of the City (the "Common Council ") an approving
<br />resolution for the purposes of said Common Council's finding, prior to the Commission's execution
<br />of said Lease, that the rental payments are fair and reasonable and that the use of the Project
<br />throughout the term of said Lease will serve the public purpose of the City and is in the best
<br />interests of its residents, and for purposes of approving the Lease; and
<br />WHEREAS, the Authority, at a meeting held on January 21, 2015, adopted
<br />Resolution No. 191, which, among other things, approved the form of the Lease, authorized the
<br />President and the Secretary - Treasurer of the Authority to execute the Lease and acknowledged
<br />that the rentals paid by the Commission pursuant to such Lease will be used by the Authority to
<br />pay the principal of and interest on lease rental revenue bonds (the "Bonds ") proposed to be issued
<br />by the Authority to finance the costs related to the Project and the Bonds; and
<br />WHEREAS, the Common Council desires to approve said Lease, pursuant to 25.2
<br />of the Act, which provides that any lease approved by a resolution of the Commission must be
<br />approved by a resolution of the Common Council of the City, and the issuance of Bonds by the
<br />Authority, pursuant to Indiana Code 36 -7- 14.5 -19 and Section 25.1 of the Act; and
<br />THEREFORE, BE IT RESOLVED by the Common Council of the City of South
<br />Bend, Indiana, as follows:
<br />SECTION I. The Common Council hereby finds that the rental payments, as
<br />approved by the Commission, are fair and reasonable, and further finds that the use of the Project
<br />throughout the term of the Lease will serve the public purpose of the City and is in the best interests
<br />of its residents. The Common Council further finds based upon information provided by H.J.
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