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-2- <br />will be an interim or construction loan for a period not to exceed <br />nine (9) months. The loan will be secured by real property and cer- <br />tain fixed assets; and, a firm takeout of the interim loan, satis- <br />factory to the South Bend Development Corporation, such as a letter <br />of credit or legally binding commitment from a commercial lending <br />institution, shall be in place prior to drawing from the interim loan. <br />SECTION IV. This ordinance shall be in full force and effect <br />from and after its passage by the Common Council and approval by the <br />Mayor. <br />��_ �� - <br />. - . - `.? <br />TED 19 CL[611 OFFICE <br />1st READING <br />PUBLIC HEARINGS' /y -9-3 Irene Gammon <br />2nd READING -4- 1Y -f-3 CITY CLERK, SOUTH BEND, IND. <br />NOT APPROVED <br />REFERRED <br />PASSED 3 -/ '�� �� j d'o <br />