Approving Economic Development Revenue Bonds $20,000,000.00 Southfield Village, Inc.

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job opportunities in and near the City is desirable to preserve the health, safety and general welfare of the citizens of the City; and that it is in the public interest that the Commission and the City take such action as they lawfully may to encourage economic development, diversification of industry and promotion of job opportunities in and near the City. 2. The Common Council hereby approves, determines, ratifies and confirms that the issuance and sale of the Bonds of the City under the Act in an amount not to exceed Twenty Million and 00 /100 Dollars ($20,000,000.00), plus incidental costs in connection with the issuance of the Bonds, for the lending of the proceeds of the Bonds to Southfield for the acquisition, construction, installation and equipping of the Project will serve the public purposes referred to above, in accordance with the Act. In order to induce Southfield to proceed with the acquisition, construction, installation and equipping of the Project, the Common Council hereby approves, determines, ratifies and confirms that: (i) it will take or cause to be taken such actions pursuant to the Act as may be required to implement the aforesaid financing, or as it may deem appropriate in pursuance thereof; provided that all of the foregoing shall be mutually acceptable to the City and Southfield; (ii) it will adopt such ordinances and resolutions and authorize the execution and delivery of such instruments and the taking of such action as may be necessary and advisable for the authorization, issuance and sale of the Bonds; and that the aforementioned purposes comply with the provisions of IC 36 -7 -11.9 and 12; M1 -3-