No. 0023 authorizing the issuance of certain project temp. loan notes in connection with urban renewal project No. INDIANA R-7 and providing for the security for the payment thereof and for other purposes

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(R.( Lc ;solution No. 23) Section 9. That the proceeds of the sale of all Project Temporary Notes issued pursuant to this Resolution shall be deposited and dis- sed only in accordance with the provisions of the Contract for loan and gr�nt, unless otherwise approved in writing by the Government. Section 10. That the Project (which is designated Project No. a R -7 and is herein called the "Project ") includes and consists of alll undertakings and activities of the Local Public Agency in the Project Aroa, in accordance with the Plan for the renewal or redevelopment of thel Project Area, for the elimination and for the prevention of the deve- lop nent or spread of slums and blight, and to the extent contemplated by sai� Plan involves slum clearance and redevelopment and the carrying of plans for a program of voluntary repair and rehabilitation of build- ings or other improvements in the Project Area: Provided, That the Proj- ect shall not include the construction or improvement of any buildings co templated by the Plan for the renewal or redevelopment of the Project Ar a. Section 11. That the land area of the Project (herein called the "P #oject Area "), is situated withing the City of South Bend, Indiana, the boundaries of the Project Area shall be as described in the Con- trot for loan and grant. Section 12. That each of the following terms, when so used in this Resolution, shall, unless the context clearly indicates otherwise, have the meaning ascribed to it in this Section: (a) The term "Contract means that certain document, a counterpart of which is now on file with the Local Public Agency, designated Contract No. Indiana R -7 (LG), naming the Local Public Agency and the Government as the parties thereto, and providing for a Project Temp- orary Loan, a Project Definitive Loan, and a Project Capital Grant to the Local Public Agency with respect