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Bonds, and further approved this form of ordinance authorizing the <br />execution thereof, and 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 <br />the City of South Bend, Indiana, that: <br />Section 1. The form and terms of the Loan Agreement, Trust <br />Indenture, Real Estate Mortgage, Security Agreement, Financing State- <br />ments, Assignment of Leases and Rents and Industrial Development <br />Revenue Bonds attached as exhibits thereto pertaining to the issuance <br />of the Industrial Development Revenue Bonds in accordance with the <br />terms of the Trust Indenture and Loan Agreement pertaining to the <br />application of Marion W. Dunn, are hereby approved and adopted. <br />Section 2. Said forms of Loan Agreement, Trust Indenture, <br />Real Estate Mortgage, Security Agreement, Financing Statements, As- <br />signment of Leases and Rents 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 into <br />the minutes of the Common Council of the City of South Bend, Indiana, <br />and shall be kept on file by the City Clerk of South Bend, Indiana. <br />Section 3. The Loan Agreement, Trust Indenture, Real Estate <br />Mortgage, Security Agreement, Financing Statements and Industrial <br />Development Revenue Bonds shall be executed on behalf of the City of <br />South Bend, Indiana by the Mayor and the City Clerk. <br />Section 4. Said Industrial Development Revenue Bonds, <br />payable solely and only from the revenues derived from such Marion W. <br />Dunn Project pursuant to the aforementioned Trust Indenture and <br />Loan Agreement shall not be in any respect a general obligation of <br />the City, nor shall the bonds be paid in any manner from funds raised <br />by taxation, and may be executed in amounts not to exceed Three <br />Hundred Thousand Dolllars ($300,000.00), repayable with interest <br />thereon at a rate not to exceed nine and three - fourths percent (9-3/4 %) <br />per annum, payable in monthly installments over a period of twenty <br />(20) years after the date of such bonds, and that such Trust Inden- <br />ture and Loan Agreement and such Industrial Development Revenue <br />-2- <br />