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such documents being mhereinafterrreferred d to the collectively as <br /> "Financing Financing Ag <br /> NOW, THEREFORE, BE IT ORDAINED BY THE COMIONACOU,NCILLOF <br /> THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, <br /> LOWS: <br /> Section 1. It is hereby foundo atdt the in refifincifl of <br /> the Project as more specifically pr <br /> Agreements and previously approved by the South Bend Economic <br /> Development Commission and presented to thiss ommon ton ouncil,ty <br /> the issuance and sale of revenue refunndinan of the net pro- <br /> of South Bend pursuant to the Act, <br /> ceeds thereof to the Partnership for thenpurposthe ofrtheypre- <br /> payment of existing bonds of the tCity,eandeford ed repayment <br /> of said loan by the Partnership will be of <br /> by the Loan therwelfareand <br /> of theNote City the <br /> of SouthPartnership <br /> and its <br /> citizens to and provisions of the <br /> citizens and complies with the purposes <br /> Act. <br /> Section 2. The forms of the Financing Agreements <br /> approved by the South Bend Economic Development Commission <br /> are hereby approved and all keptmontfileebynthepClerk <br /> herein by reference a nd shall <br /> Section 3. The City of South Bend shall issue pursuant <br /> to the Act its Economic Development Revenue Refunding Bonds <br /> (First Bank Center Project) in an aggregate principal amount <br /> $8,030,384 .77 (the "Bonds") for the purpose of <br /> not exceeding $8, in order to refi- <br /> nance funds to loan to the Partnership in in the Lean <br /> the Project, as more particularly principal, oan- <br /> Agreement, which Bonds will be payable as to by <br /> pre- <br /> mium, if any, and interest solely from <br /> the Partnership pursuant to the Loan Agreement and its Note <br /> in the aggregate principal amount of the Bonds whiche will and be <br /> executed and delivered by the Partnership to <br /> secure said loan, and as otherwise provided in the above- <br /> described Indenture. The Bonds shall aturelatesuchjtimes, <br /> shall bear interest at 5.52 % per <br /> such redemption provisions in the Indenture executed other ct to such <br /> forth <br /> provisions as are set general obligation of, an <br /> The Bonds shall never constitute a g <br /> indebtedness of, or charge against the general credit of the <br /> City of South Bend, Indiana. <br /> Section sell the Mayor ods Clerk are pursuant <br /> directed Bond to and to the Bond and Note Purchase Agreement, and at a price of <br /> 100% of the principal amount thereof. <br /> Section 5. The Mayor and Clerk are authorized Fandncing <br /> directed to execute the documents constituting <br /> 2 <br />