Approving Industrial Development Revenue Bonds - Mossberg & Company Inc

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(11 %) per annum, payable in monthly installments over a period not to exceed fifteen (15) years after the date of such bonds, and that such Indenture of Trust and Loan Agreement and such Industrial Develop- ment Revenue Bonds shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and Clerk and sealed with the corporate seal of such City. Section 5. Resolution No. 12 -80 of the South Bend Eco- nomic Development Commission passed on April 18, 1980, is hereby approved; and the Common Council of the City of South Bend hereby finds that the proposed financing for the issuance of the economic development revenue bonds would be of benefit to the health and welfare of the City of South Bend and that it complies with the purposes and provisions of I.C. 18- 6 -4.5, as amended and supplanted. Section 6. This Ordinance amends and supplements Ordinance No. 6775 -80 previously passed by the Common Council and approved by the Mayor. Section 7. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Me er o the South Bend Common Council 10 READING `3 7'J3LIC HEARING :nd READING ✓ —�� NOT APPROVE! REFERRED PASSED ` 7 —4-d -3- 'RED III CL 01'S OFFICE MAY 2 a 1980 Irene Gammon CITY CLERK, SOUTH BEND, IND.