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The Borrower has requested that that the City and U.S. Bank National Association, as <br />trustee (the "Trustee "), enter into (i) a Second Amended and Restated Trust Indenture (the <br />"Second Amended and Restated Indenture ") pertaining to the Bonds, which Amended and <br />Restated Indenture, among other things, would add a London interbank offered rate (LIBOR) <br />based interest mode for the Bonds (the "LIBOR Rate "), it being understood that while the Bonds <br />bear interest at the LIBOR Rate, they will not be secured by a letter of credit or confirming letter <br />of credit; and a Second Amended and Restated Loan Agreement (the "Second Amended and <br />Restated Agreement ") between the City and the Borrower. <br />The Common Council conducted a public hearing on December 12, 2011 on the proposed <br />execution and delivery of the Second Amended and Restated Indenture and the Second Amended <br />and Restated Agreement, and, believes that such proposed matters will be of benefit to the health <br />or general welfare of the citizens of South Bend, Indiana and complies with the purposes and <br />provisions of the Act. <br />The Common Council wishes to amend, supplement and restate (i) that certain Amended <br />and Restated Trust Indenture, dated October 1, 2009, between the City and the Trustee (the "First <br />Amended and Restated Indenture "), as set forth in the Second Amended and Restated Indenture, <br />and (ii) that certain Amended and Restated Loan Agreement, dated October 1, 2009, between the <br />City and the Trustee (the "First Amended and Restated Agreement "), as set forth in the Second <br />Amended and Restated Agreement. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA AS FOLLOWS: <br />SECTION 1. Incomoration of Recitals. The recitals contained in this Ordinance and in <br />the Earlier Ordinances are true and correct and are incorporated in this Ordinance by this <br />reference. <br />SECTION 2. Incomoration of Previous Findings. Each of the findings which are <br />contained in the Earlier Ordinances is true and correct and is incorporated in this Ordinance by <br />this reference. <br />SECTION 3. Findings; Public Benefits. This Council finds that the execution and <br />delivery of the Second Amended and Restated Indenture and the Second Amended and Restated <br />Agreement (i) will be of benefit to the health and general welfare of the City and its citizens, and <br />(ii) complies with the purposes and provisions of the Act. <br />SECTION 4. Authorizations. The Council hereby authorizes the execution and delivery <br />of the Second Amended and Restated Indenture and the Second Amended and Restated <br />Agreement. <br />SECTION 5. Approval of the Second Amended and Restated Indenture and the Second <br />Amended and Restated Agreement. The Second Amended and Restated Indenture and the <br />Second Amended and Restated Agreement are hereby approved in the forms submitted to this <br />meeting, and a copy of each such document shall be kept on file by the City Clerk (the "Clerk "). <br />The Mayor (the "Executive ") and the Clerk are hereby authorized and directed to execute and <br />deliver such documents without further approval of the Council in substantially the forms herein <br />