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Resolution *69 <br />3. <br />thereof at the rate per annum, which is and shall be the higher <br />of (1) Four per centum (4.0/) per annum, or (2) a rate per annum <br />(which shall, in no event, exceed 6 per cent per annum) equal -'--o <br />the average yield to maturity on all outstanding marketal.:le obli-.- <br />gations, of the United States having a maturity from Noven, -oer 1, <br />1960, of approximately 5 years, as determined by the Admsnistrator, <br />upon the advice of the Secretary of the Treasury, such average <br />yield o be estimated on the basis of daily closing market bid <br />quotat ons or prices for the month of November 1968, and adjusted <br />to the nearest 1/8 of 1 per cent. <br />Section 3. That the following shall be added to Section 12 <br />of the basic Note Resolution as subsection (d) thereof: <br />It( <br />he term "Initial Loan period" as used herein shall be <br />deemed to have refercn`� to the "Second Initial Loan PLriod" in the <br />case o Project Temporary Loan Notes evidencing the additional <br />loan ". <br />Commis: <br />Commi s: <br />(S .t�L) <br />ATTEST <br />1 at the special meetingof the South Bend Redevelopment <br />;ion held on September 19, 1963, at the office of the <br />;ion, 129 West Colfax Avenue, South Bend, Indiana. <br />cr'r:tary <br />CITY OF SOUTH BEND <br />DEPARTMENT OF REDEVELOPMENT <br />I <br />sident r <br />S th Bend Redevelopment ComrAssicn <br />