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Authorize- Issuance of Revenue Bonds $11,960,000
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Authorize- Issuance of Revenue Bonds $11,960,000
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Last modified
3/21/2011 3:56:49 PM
Creation date
3/21/2011 3:56:47 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
4/28/1997
Ord-Res Number
8778-97
Bill Number
34-97
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, <br /> ($11,960,000.00) for the Purpose of Financing Costs of a Proposed Economic Development Project of the City, <br /> Together with Expenses in Connection with the Issuance of Bonds" (the "Ordinance"), and the Indiana Code. <br /> Reference is hereby made to the Ordinance for a description of the nature and extent of the rights, duties and <br /> obligations of the owners of the bonds and the City and the terms on which this bond is issued, and to all the <br /> provisions of the Ordinance to which the registered owner hereof by the acceptance of this bond assents. <br /> Pursuant to provisions of the Ordinance,the principal of and prernium,if any,and interest on this bond and <br /> all other bonds of such issue and any bonds hereafter issued ranking on a parity therewith, are payable solely from <br /> the Sinking Fund created by the Ordinance to be provided from the county economic development income tax <br /> revenues of the City. The City shall not be obligated to pay this bond or the interest thereon except from said special <br /> fund provided from said revenues. Subject to the provisions for registration and to certain other provisions set forth <br /> in the Ordinance,this bond is negotiable under the laws of the State of Indiana. <br /> The City irrevocably pledges the entire county economic development income tax revenues of the City <br /> deposited into the Sinking Fund created by the Ordinance,to the extent necessary for that purpose, to the prompt <br /> payment of principal of and interest on the bonds authorized by the Ordinance,of which this is one, and any bonds <br /> hereafter issued on a parity therewith. <br /> THE TERMS AND PROVISIONS OF THIS BOND ARE CONTINUED ON THE REVERSE SIDE <br /> HEREOF AND SUCH CONTINUED TERMS AND PROVISIONS SHALL FOR ALL PURPOSES HAVE THE <br /> SAME EFFECT AS THOUGH FULLY SET FORTH AT THIS PLACE. <br /> It is hereby certified and recited that all acts, conditions and things required by law and the Constitution <br /> of the State of Indiana to be done precedent to and in the execution, issuance,sale and delivery of this bond have <br /> been properly done, happened and performed in regular and due form as provided by law; and that this bond and <br /> the total issue of bonds is within every limit of indebtedness provided by the Constitution and laws of the State of <br /> Indiana. <br /> This bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit <br /> under the Ordinance authorizing this bond until the certificate of authentication hereon shall have been duly executed <br /> by the Registrar(or a duly authorized representative thereo fl. <br /> IN WITNESS WHEREOF, the City of South Bend, in the State of Indiana, by ordinance of its Common <br /> Council, has caused this bond to be executed in its name by the manual or facsimile signature of its Mayor, <br /> countersigned by the manual facsimile signature of its Controller,and attested by the manual or facsimile signature <br /> of its Clerk, who has caused the official seal of the City to be impressed or a facsimile thereof to be printed or <br /> otherwise reproduced hereon. <br /> CITY OF SOUTH BEND, INDIANA <br /> By: (Facsimile) <br /> Mayor <br /> Countersigned: (Facsimile) <br /> Controller <br /> (SEAL) <br /> ATTEST: <br /> (Facsimile) <br /> Clerk <br /> -7- <br />
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