Authorizing $550,000 Economic Development Revenue Bonds - Automatic Molded Plastics Inc. Project)

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$550,000 aggregate principal amount of its Economic Development Revenue Bonds, Series 1981 (Automatic Molded Plastics, Inc., Project) (the "Bonds "), as authorized and permitted by the Act, and as hereinafter provided. The proceeds of the Bonds will be loaned by the Issuer to the Corporation pursuant to a Loan Agreement, dated as of December 1, 1981 (the "Loan Agreement "), and the Corporation will execute and deliver to the Issuer a promissory note, dated as of December 1, 1981 (the "Note "), evidencing its obligations to make payments thereunder, in order to carry out said purposes. Pursuant to a Trust Indenture, dated as of December 1, 1981 (the "Indenture "), from the Issuer to American Fletcher National Bank and Trust Company, Indianapolis, Indiana, as Trustee (the "Trustee "), the Issuer will assign to the Trustee certain of the Issuer's right, title and interest in, under and to the Loan Agreement (except for certain rights of the Issuer relating to the ability of the Issuer to amend or supplement the Loan Agreement, and to be reimbursed and indemnified by the Corporation) and the Note as security for the payment of the Bond. Pursuant to Article V of the Loan Agreement, the Corpora- tion will cause St. Joseph Bank and Trust Company, South Bend, Indiana (the "Credit Bank "), to issue its irrevocable Letter of Credit (the "Letter of Credit ") for the benefit of the Trustee, and the Corporation will execute and deliver a Security Agreement (the "Security Agreement ") and a Mortgage (the "Mortgage ") to the Trustee, as further security for the payment of the Bonds. The Bonds will be sold by the Issuer to Raffensperger Hughes & Co. Inc., Indianapolis, Indiana (the "Original Purchaser" or the "Underwriter "), pursuant to a Bond Purchase Agreement (the "Bond Purchase Agreement "), dated the date hereof, by and between the Underwriter and the Issuer. -3-