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SECTION I: Section 2 of Ordinance No. 6881 -81 is amended by
<br />additions and deletions and shall read in its entirety as
<br />follows:
<br />SECTION 2. For the purpose of providing funds with which to
<br />pay the cost of said projects and the incidental expenses
<br />necessary to be incurred in connection therewith, the City shall
<br />make a loan in the amount of Five - Million -N}ne- Hundred - Fifteen
<br />Tke�sand- De�las- {5,915,999,99 Three Million Two Hundred and
<br />Fifteen Thousand Dollars ($3,215,000.00). In order to procure
<br />said loan, the City Controller is hereby authorized and directed
<br />to have prepared and to issue and sell the negotiable general
<br />obligation bonds of the City, to be designated as "Municipal
<br />Bonds of 1981 ", in the aggregate principal amount of Five
<br />M111ien- Nlne- Hnnd�ed -F} €teen- The�eand- De11a�s ($5,915;898 :99)
<br />Three Million Two Hundred and Fifteen Thousand Dollars
<br />3,215,000.00 , which bonds shall be issued in the denomination
<br />of Five Thousand Dollars ($5,000.00), shall be numbered con-
<br />secutively from one (1) upwards, shall be dated as of the first
<br />day of the month in which said bonds are sold, and shall bear
<br />interest at a rate not exceeding ten - per -eent (19 %) fifteen per
<br />cent (15 %) per annum (the exact rate to be determined by
<br />b1ddin_g7_, which interest shall be payable on July 15, 1982, and
<br />semi - annually thereafter on January 15 and July 15 each year and
<br />shall be evidenced by coupons attached to said bonds. Both
<br />bonds and interest coupons shall be payable at the First Bank
<br />and Trust Company of South Bend, in the City of South Bend,
<br />Indiana. The bonds shall mature serially semi - annually in the
<br />amounts as follows:
<br />DATE AMOUNT
<br />July 15,
<br />1982
<br />$2657909709
<br />January
<br />15, 1983
<br />$6997099709
<br />July 15,
<br />1983
<br />$6507999799
<br />January
<br />15, 1984
<br />$659,-806:99
<br />July 15,
<br />1984
<br />$7667606786
<br />January
<br />15, 1985
<br />$766,-868:66
<br />July 15,
<br />1985
<br />$750,-666766
<br />January
<br />15, 1986
<br />$7597000700
<br />July 15,
<br />1986
<br />$856, - 666. -68
<br />$145,000.00
<br />$325,000.00
<br />$350,000.00
<br />$350,000.00
<br />$380,000.00
<br />$380,000.00
<br />$405,000.00
<br />$405,000.00
<br />$475,000.00
<br />Said bonds shall be executed in the name of the City of
<br />South Bend, Indiana by the Mayor, countersigned by the City
<br />Controller, and attested by the City Clerk who shall affix the
<br />seal of the City to each of said bonds. The interest coupons
<br />attached to said bonds shall be executed with the facsimile
<br />signature of the City Controller and said official, by the
<br />countersigning of said bonds, shall adopt as and for his own
<br />proper signature his facsimile signature appearing on said
<br />coupons. Said bonds shall, in the hands of bona fide holders,
<br />have all of the qualities of negotiable instruments under the
<br />laws of the State of Indiana.
<br />2
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