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all applicable Indiana statutes governing the issuance of Indus- <br />trial Development Revenue Bonds, including but not limited to the <br />Act and approved the form and terms of the Loan Agreement, Inden- <br />ture of Trust, Note, Security Agreement and Industrial Develop- <br />ment Revenue Bonds, and further approved this form of ordinance <br />authorizing the execution thereof, and that such economic devel- <br />opment facilities will not have an adverse competitive effect on <br />similar facilities already constructed and operating in the City <br />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, Security Agreement and Industrial Development <br />Revenue Bonds attached as exhibits thereto pertaining to the is- <br />suance of the Industrial Development Revenue Bonds in accordance <br />with the terms of the Indenture of Trust and Loan Agreement per- <br />taining to the application of Raconik Leasing, an Indiana partner- <br />ship, are hereby approved and adopted. <br />Section 2. Said forms of Loan Agreement, Indenture of <br />Trust, Note, Security Agreement and Industrial Development Rev- <br />enue Bonds which are on file with the Commission are hereby in- <br />corporated by reference into this Ordinance, and said forms shall <br />be inserted into the minutes of the Common Council of the City of <br />South Bend, Indiana, and shall be kept on file by the City Clerk <br />of South Bend, Indiana. <br />Section 3. The Loan Agreement, Indenture of Trust, <br />Security Agreement and Industrial Development Revenue Bonds shall <br />be executed on behalf of the City of South Bend, Indiana, by the <br />Mayor and the City Clerk. <br />Section 4. Said Industrial Development Revenue Bonds, <br />payable solely and only from the revenues derived from such <br />Raconik Leasing, 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 />-2- <br />