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ORDINANCE NO. 7 ,71-,P& <br />AN ORDINANCE AUTHORIZING THE ISSUANCE AND <br />SALE OF $3,000,000 ECONOMIC DEVELOPMENT <br />REVENUE BONDS OF THE CITY OF SOUTH BEND, <br />INDIANA, FOR THE PURPOSE OF MAKING A LOAN <br />TO BEATRICE FOODS CO. IN ORDER TO FINANCE <br />THE ACQUISITION AND CONSTRUCTION OF CERTAIN <br />ECONOMIC DEVELOPMENT FACILITIES LOCATED <br />IN THE UNINCORPORATED AREA OF ST. JOSEPH <br />COUNTY; AUTHORIZING EXECUTION OF A LOAN <br />AGREEMENT; PROVIDING FOR THE DELIVERY OF <br />A NOTE AND ASSIGNMENT THEREOF AS SECURITY <br />FOR SAID BONDS; AUTHORIZING AN INDENTURE OF <br />TRUST APPROPRIATE FOR THE PROTECTION AND <br />DISPOSITION OF THE REVENUES FROM SUCH NOTE; <br />AUTHORIZING EXECUTION OF A BOND PURCHASE <br />AGREEMENT AND AUTHORIZING AN OFFERING <br />MEMORANDUM; AND AUTHORIZING THE TERMS <br />AND SALE OF SAID BONDS. <br />WHEREAS, the City of South Bend, Indiana (hereinafter <br />called the "City ") is a municipal corporation and political <br />subdivision of the State of Indiana and by virtue of I.C. 36 -7 -12 <br />as amended (hereinafter called the "Act ") is authorized and empowered <br />to adopt this ordinance (the "Bond Ordinance ") and to carry out <br />its provisions; and <br />WHEREAS, Beatrice Foods Co. (the "Company ") is a <br />corporation duly organized and existing under and by virtue of <br />the laws of Delaware with its principal office in Chicago, Illinois, <br />and duly qualified to conduct business in the State of Indiana; <br />and <br />WHEREAS, the Company has agreed to acquire and construct <br />economic development facilities consisting of a 65,000 square <br />foot slaughterhouse and meat packing facility (the "Project ") to <br />be owned and operated by Berliner & Marx, Inc., a wholly owned <br />