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RESOLUTION NO. 13x0 HS <br /> RESOLUTION OF THE COMMON COUNNCIL OF CITY OF SOUTH BEND <br /> RELATING TO AN ASSIGNMENT AND <br /> ASSUMPTION OF CITY OF SOUTH BEND <br /> ECONOMIC DEVELOPMENT REVENUE BONDS <br /> WHEREAS, the South Bend Economic Development <br /> Commission investigated, studied, surveyed and reported to the <br /> Mayor and the Common Council of the City of South Bend, Indiana <br /> that a need exists in the community for additional job <br /> opportunities and business and commercial diversification <br /> within and near South Bend, Indiana; and <br /> WHEREAS, Twenty Three North Partnership, an Indiana <br /> partnership ("Seller") is the owner of a tract of land with <br /> improvements thereon ("Property") ; and <br /> WHEREAS, on July 25, 1984, Seller financed the acquis- <br /> ition of the Property by borrowing the proceeds of Industrial <br /> Development Revenue Bonds (the "Bonds") issued by the City of <br /> South Bend, Indiana (the "Issuer") in the amount of <br /> $1,050, 000.00; and <br /> WHEREAS, on July 25, 1984, 1st Source Bank, a banking <br /> institution organized under the laws of Indiana, entered into <br /> an Indenture of Trust with the Issuer to act as Bond Trustee; <br /> and <br /> WHEREAS, Hugh M. Silberman and LaVon D. Silberman <br /> ("Purchaser") have agreed to acquire the Property from Seller, <br /> to continue to operate the facility as an economic development <br /> facility subject to the approval of and appropriate official <br /> action by the Issuer and the Issuer's Economic Development <br />