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including but not limited to the Act and approved the form and <br />terms of the Loan Agreement, Indenture of Trust, Note, Mortgage, <br />and Industrial Development Revenue Bonds, and further approved <br />this form of ordinance authorizing the execution thereof, and <br />that such economic development facilities will not have an <br />adverse competitive effect on similar facilities already con- <br />structed and operating in the City of South Bend, Indiana. <br />NOW THEREFORE, BE IT ORDAINED by the Common Council of <br />the City of South Bend, Indiana, that: <br />Section 1. The form and terms of the Loan Agreement, <br />Indenture of Trust, Note, Mortgage, and Industrial Development <br />Revenue Bonds attached as exhibits thereto pertaining to the <br />issuance of the Industrial Development Revenue Bonds in accord- <br />ance with the terms of the Indenture of Trust and Loan Agreement <br />pertaining to the application of Claeys Realty, an Indiana part- <br />nership, are hereby approved and adopted. <br />Section 2. Said forms of Loan Agreement, indenture of <br />Trust, Note, Mortgage, and Industrial Development Revenue Bonds <br />which are on file with the Commission are hereby incorporated by <br />reference into this Ordinance, and said forms shall be inserted <br />into the minutes of the Common Council of the City of South Bend, <br />Indiana, and shall be kept on file by the City Clerk of South <br />Bend, Indiana. <br />Section 3. The Loan Agreement, Indenture of Trust, Note, <br />Mortgage, and Industrial Development Revenue Bonds shall be exe- <br />cuted on behalf of the City of South Bend, Indiana, by the Mayor <br />and the City Clerk. <br />Section 4. Said Industrial Development Revenue Bonds, <br />payable solely and only from the revenues derived from such <br />Claeys Realty, an Indiana partnership, Project pursuant to the <br />aforementioned Indenture of Trust and Loan Agreement shall not <br />be in any respect a general obligation of the City, nor shall <br />the bonds be paid in any manner from funds raised by taxation, <br />and may be executed in amounts not to exceed Four Hundred Fifty <br />-2- <br />