Approving the finding of the South Bend Economic Development Commission with respect to the issuance of revenue bonds not exceeding $1 million

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as it lawfully may to encourage the Company to construct the truck terminal and related facilities. Section 2. The Common Council further finds and determines that the issua.n.ce and sale of revenue bonds of the City under the Act, and the use of the net proceeds derived therefrom to finance the acquisition, installation and construction of the Project, will enable the Project to be constructed and will be of benefit to the health, prosperity, economic stability and qeneral welfare of the City of South Rend and St. Joseph Countyand their citizens and will comply with the purposes and p_r.ovisions of the Act. Section 3. In order to induce the Company to proceed with the acquisition, installation and construction of the Project, the Common Councilhereby undertakes that: (i) It will authorize and issue one or more series of revenue bonds of the City pursuant to the Act, in an aggregate principal amount not exceeding One Million ($1,000,000.00) Dollars, to finance the costs of the acquisition, installation and construction of the Project, including reimbursement or repayment to the Company of any moneys expended by the Company for planning, engineering, interest during construction, underwriting and attornev and bond counsel fees, and will enter into a financing agreement to use the net proceeds of such bonds to acquire, install and construct the Project and lease or sell the Project to the Company f..or specific rent or purchase price payments sufficient to pay the principal of, premium, if any, and interest on such bonds, or to lend such net proceeds to the Company to enable it to acquire, install and construct the project and. repay the loan in installments sufficient to pay the principal of, premium, if any, and interest on such bonds; (ii) It will adopt such ordinances and resolutions and authorize the execution and delivery of such instru- ments and the taking of such actions as may be necessary or advisable for the authorization, issuance and sale of -3-