8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77

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Agreements which require their signature, and their execution is hereby confirmed on behalf of the City of South Bend and any other documents which may be necessary or desirable to consummate the transaction, including the Bonds authorized herein. The Clerk is authorized to arrange for the delivery of such Bonds to the purchasers thereof upon payment therefor which will be made to the Trustee. The Mayor and Clerk may by their execution of the Financing Agreements and the Bonds approve chances therein without further approval of this Common Council or the South Bend Economic Development Commis- sion if such changes do not effect the terms set forth in Sections 27(a)(1) through 27(a)(10) of IC 36 -7 -12. Section 6. This Common Council further finds that the refinancing of the Project will not have an adverse com- petitive impact on other facilities of the same kind already operating in the same market area, that the refinancing will help retain existing employment and will be of benefit to the health and general welfare of the City. Section 7. The City of South Bend hereby calls the Prior Bonds (as defined in the Indenture) for redemption on the respective dates set forth in the Indenture as executed and requests the trustee for the Prior Bonds to give notice of such redemption in the manner set forth in the applicable Indenture securing the Prior Bonds. Section 8. The provisions of this Ordinance and the Indenture securing the Bonds shall constitute a contract binding between the City of South Bend and the owners of the Bonds, and, except as provided in the Indenture or Loan Agreement, after the issuance of said Bonds this Ordinance shall not be repealed or amended in any respect which would adversely affect the right of such owners so long as any of said Bonds or the interest thereon remains unpaid. Section 9. This Ordinance shall constitute the approval of the Bonds pursuant to Section 147(f) of the Internal Revenue Code of 1986. Section 10. This Ordinance shall be in full force and effect from and after compliance with procedures required by the Act. 1st READING PUBLIC HEARING 3 rd READING NOT APPROVED 3 REFERRED PASSED a 3_� 3 . -�. Filed in Clerk's 'Office Nov 2 3 1993 IRENE OAMM CITY CLERK. $0. SEND, IN.