Issue Economic Development Revenue Bonds (B & R Investments)

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able rate shall be charged, until the Series 1985 Bonds are paid; shall be issued in registered form; shall be registrable as provided therein; shall be payable in the medium and at the place or places provided therein; and shall be amortized over fifteen (15) years with a balloon payment of all remaining principal on January 1, 1996 . Section 6 . The Mayor and/or the Clerk of the City are authorized and directed to sell said Economic Development Reve- nue Bonds to Rehnberg-Jacobson Mfg. Co. in satisfaction of $325, 800 of the purchase price of 1916 South Main Street, South Bend, Indiana . Section 7. The Mayor and the Clerk of the City are authorized and directed to execute and deliver the aforemen- tioned documents for and on behalf of the City after making therein such changes permitted by the Act as they deem neces- sary or proper, as evidenced by their execution of such docu- ments, and are further authorized and directed to execute and deliver such other documents for and on behalf of the City, and to take such other actions for and on behalf of the City, as they deem necessary or proper in connection with the consumma- tion of such financing. The Mayor and the Clerk of the City are authorized to arrange for the delivery of said Economic Development Revenue Bonds to Rehnberg-Jacobson Mfg. Co. Section 8 . The provisions of this ordinance and the aforementioned documents shall constitute a contract binding between the City and the holders of said Economic Development Revenue Bonds, and after the issuance of said Economic Develop- -5- - _