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Authorizing City of South Bend Issue its Economic Revenue Bond (3300 Sample Street Associates) $2,000,000.00
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Authorizing City of South Bend Issue its Economic Revenue Bond (3300 Sample Street Associates) $2,000,000.00
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3/18/2013 3:02:01 PM
Creation date
3/18/2013 3:01:58 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/28/1985
Ord-Res Number
77461-85
Bill Number
32-85
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Section 2 . This Council further finds that the pro- <br /> posed economic development revenue bond financing of such <br /> facilities will be of benefit to the health and welfare of the <br /> City and its citizens . <br /> Section 3 . This Council further finds that the pro- <br /> posed economic development revenue bond financing of such <br /> facilities complies with the purposes and provisions of the Act . <br /> Section 4 . This Council hereby approves the proposed <br /> economic development revenue bond financing of such facilities, <br /> including ( i) the form and terms of the aforementioned Loan <br /> Agreement, Mortgage and Security Agreement, Promissory Note, <br /> Economic Development Revenue Bond and Trust Indenture attached <br /> hereto and incorporated herein by reference (two (2) copies of <br /> which are on file in the Office of the Clerk of the City for <br /> public inspection) , ( ii) the issuance and sale of said Economic <br /> Development Revenue Bond, ( iii) the loan of the net proceeds of <br /> said Economic Development Revenue Bond to the Company for the <br /> acquisition and rehabilitation of such facilities, such loan to <br /> be evidenced by said Promissory Note, (iv) the repayment of <br /> said loan by the Company pursuant to said Loan Agreement, Mort- <br /> gage and Security Agreement, and said Promissory Note, and (v) <br /> the securing of said Economic Development Revenue Bonds by said <br /> Loan Agreement, Mortgage and Security Agreement and said Trust <br /> Indenture. <br /> Section 5 . The City shall issue its Economic Develop- <br /> ment Revenue Bond, Series 1985 (3300 Sample Street Associates, <br /> -3- <br />
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