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• <br /> ORDINANCE NO. 79- .r <br /> AN ORDINANCE AMENDING ORDINANCE NO. 7567-85 AUTHORIZING <br /> THE ISSUANCE AND SALE OF $20,000,000. 00 ECONOMIC <br /> DEVELOPMENT REVENUE BONDS OF THE CITY OF SOUTH BEND, <br /> INDIANA, FOR THE PURPOSE OF MAKING A LOAN TO FINANCE <br /> THE ACQUISITION AND CONSTRUCTION OF CERTAIN ECONOMIC <br /> DEVELOPMENT FACILITIES LOCATED IN THE CITY PERTAINING <br /> TO MILL RACE, AN INDIANA LIMITED PARTNERSHIP; AUTHORIZING <br /> THE EXECUTION OF A LOAN AGREEMENT: PROVIDING FOR THE <br /> DELIVERY OF A NOTE AND ASSIGNMENT THEREOF AS SECURITY <br /> FOR SAID BOND: AUTHORIZING AN INDENTURE OF TRUST <br /> APPROPRIATE FOR THE PROTECTION AND DISPOSITION OF THE <br /> REVENUES FROM SUCH NOTE: AND AUTHORIZING THE TERMS AND <br /> SALE OF SAID BOND. <br /> STATEMENT OF PURPOSE OF INTENT: <br /> The City of South Bend, Indiana (hereinafter called the <br /> "City") is a political subdivision of the State of Indiana and <br /> by virtue of I.C. 36-7-11.9 and 12 as amended (hereinafter called <br /> the "Act") is authorized and empowered to adopt this Ordinance <br /> (the "Bond Ordinance") and to carry out its provisions; and <br /> The Common Council of South Bend, Indiana, on December 16, <br /> 1985, passed Ordinance No. 7567-85, which Ordinance was <br /> approved and signed on December 17 , 1985, by the Mayor of the <br /> City of South Bend, which Ordinance, when passed, contained references <br /> to certain activities of the Elkhart City Economic Development <br /> Commission and the Elkhart City Council, whereas it should have <br /> referred to certain activities of the South Bend Economic <br /> Development Commission and the Common Council of South Bend, <br /> Indiana, and that this Ordinance is to correct those references; <br /> and, <br /> The South Bend City Economic Development Commission (the <br /> "Commission") has performed all actions required of it by the <br /> Act preliminary to the adoption of this Bond Ordinance and has <br /> approved and forwarded to this Common Council the forms of: <br /> (1) Indenture of Trust (the "Indenture") dated as of December 15, <br /> 1985, between theCity and Midwest Commerce Banking Company, of <br /> Elkhart, Indiana (the "Trustee") , containing a form of economic <br /> development revenue bond (the "Bond") , (2) Loan Agreement dated <br /> as of December 15, 1985, between the City and Mill Race, an <br /> Indiana Limited Partnership (the "Company") , containing a form <br /> 1 <br /> MRAMORD <br />