Authorizing Issuance of Economic Development Revenue Bonds Raitt Corporation Project

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Section 1. The form and terms of the Loan Agreement and Trust Indenture and Bonds pertaining to the Raitt Corporation project and the issuance of economic development revenue bonds pursuant thereto are hereby approved. Section 2. Said form of Loan Agreement and Trust Indenture and Bonds is hereby incorporated by reference into this ordinance and said form shall be inserted into the minutes of the Common Council of South Bend, Indiana, and shall be kept on file by the City Clerk of South Bend, Indiana. Section 3. The said Loan Agreement and Trust Indenture and Bonds shall be executed on behalf of the Economic Development Commission of the City of South Bend, Indiana by the Mayor and City Clerk. Section 4. Economic development revenue bonds, payable solely and only from the revenue derived from such air freight terminal at the Michiana Regional Airport, may be issued in a total sum of not to exceed $550,000 for a period not to exceed twenty years duration from the date of the issuance of such bonds in accordance with the terms of said Loan Agreement and Trust Indenture and that such bonds shall be executed on behalf of the Economic Development Commission of the City of South Bend, Indiana by the Mayor and City Clerk of South Bend, Indiana, and shall be sealed with the corporate seal of said city. Section 5. This ordinance shall be in full force and effect from and after its passage by the Common Council and approved by the Mayor. ht READ3!NG 0") - /'1- 947 ?L.h3LIC HEARING QJ-- iliD zt J sl f F,13iovC3 )-As - -g'v NIC"T APPROVED P,_FCi "iPED PASSED Member of South Bend Common Council FILED IN CI.E2, 4'S OFFICE FEB 61980 Irene Gammon CITY CLERK, SOUTH BEND, IND.