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Project would be of public benefit to the health, safety and general <br /> welfare of the Issuer and its citizens; and <br /> NOW, THERFORE, BE IT RESOLVED by the Common Council of the City <br /> of South Bend as follows: <br /> 1 . The Common Council of the City of South Bend finds, <br /> determines, ratifies and confirms that the promotion of <br /> diversification of economic development and job opportunities in <br /> and near South Bend, Indiana, is desirable to preserve the health, <br /> safety and general welfare of the citizens of the Issuer; and <br /> that it is in the public interest that the Commission and the <br /> Issuer take such action as they lawfully may to encourage economic <br /> development, diversification of industry and promotion of job <br /> opportunities in and near the Issuer. <br /> 2. The Common Council of the City of South Bend approves, <br /> determines, ratifies and confirms that the issuance and sale of <br /> economic development revenue bonds in an amount of approximately <br /> $6,000,000 of the Issuer under the Act for the acquisition, <br /> construction and equipping of the Project and the sale or leasing <br /> of the Project to the Applicant or the loan of the proceeds of <br /> the revenue bonds to the Applicant, will serve the public purposes <br /> referred to above, in accordance with the Act. <br /> 3. In order to induce the applicant to proceed with the <br /> acquisition, construction and equipping of the Project, the <br /> Common Council of the City of South Bend hereby approves, determines, <br /> ratifies and confirms that (i) it will take or cause to be taken <br /> such actions pursuant to the Act as may be required to implement <br /> the aforesaid financing, or as it may <br /> -2- <br />