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Section 4. The Industrial Development Revenue Bond or <br />Bonds authorized by this Ordinance shall not be and shall never <br />constitute an indebtedness of or a charge against the general <br />credit or the taxing power of the City of South Bend, Indiana, <br />and shall not be in any respect a general obligation of the City <br />of South Bend, Indiana, nor shall such Bond or Bonds be paid in <br />any manner from funds raised by taxation. Such Bond or Bonds <br />shall be payable solely from the revenues and receipts received <br />pursuant to the terms of such Trust Indenture and User Agreement. <br />Section 5. Resolution No. 31 -80 of the South Bend <br />Economic Development Commission passed on January 23, 1981, is <br />hereby approved and the Common Council of the City of South Bend <br />hereby finds that the proposed financing for the issuance of such <br />Industrial Development Revenue Bonds would be of benefit to the <br />health and welfare of the City of South Bend and that such com- <br />plies with the purposes and provisions of the Act. <br />Section 6. This Ordinance shall be in full force and <br />effect from and after its pass <br />approved by the Mayor. <br />tsl READING <br />PUBLIC HEARING <br />2nd READING 9-C7— g <br />NOT APPROYM <br />REFERREQ <br />by the Common Council and <br />A <br />ounc <br />FILED ICI CLE L''i'S OFFICE <br />Irene Gammon <br />CITY CLERK, SOUTH BEND, IND, <br />