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thereof, and further finding that such economic development facilities <br />will not have an adverse competitive effect on similar facilities <br />already constructed and operating in the City of South Bend, Indiana. <br />NOW, THEREFORE, BE IT ORDAINED BY THE Common Council of the City <br />of South Bend, Indiana, that: <br />Section 1. The form and terms of the Supplemental Loan Agreement <br />(the "Loan Agreement "), Supplemental Indenture of Trust (the "Indenture <br />of Trust "), and additional Economic Development Revenue Bonds pertaining <br />to Lawson - Fisher Associates Project and the issuance of the Economic <br />Development Revenue Bonds pursuant thereto are hereby approved and <br />adopted. <br />Section 2. Said forms of Indenture of Trust and Loan Agreement, to- <br />gether with the Note and Mortgage attached as an exhibit thereto, and the <br />Economic Development Revenue Bonds which are on file with the Commission, <br />are hereby incorporated by reference into this Ordinance, and said forms <br />shall be inserted into the minutes of the Common Council of the City of <br />South Bend, Indiana. <br />Section 3. Said Loan Agreement and Indenture of Trust shall be exe- <br />cuted on behalf of the City of South Bend, indiana, by the Mayor and City <br />Clerk and sealed with the corporate seal of such City. <br />Section 4. Said Economic Development Revenue Bonds, payable solely <br />and only from the revenues derived from such Project pursuant to the afore- <br />mentioned Loan Agreement and Indenture of Trust will not be in any respect a <br />general obligation of the City, nor may the Bonds be paid in any manner <br />from funds raised by taxation, and may be issued in amounts not to <br />exceed $60,000.00 repayable with interest thereon at the rate of loo per <br />annum, over a term of 10 years, in accordance with the terms of said Loan <br />Agreement and Indenture of Trust and that such Bonds shall be executed <br />on behalf of the City of South Bend, Indiana, by the Mayor and City Clerk <br />of South Bend, Indiana, and sealed with the corporate seal of said City. <br />Section 5. The Resolution of the South Bend Economic Development <br />Commission, passed on the 16th day of May, 1980, is hereby approved; and <br />the Common Council of the City of South Bend, Indiana, hereby finds that <br />- 2 - <br />