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and that such economic development facilitities will not have an <br />adverse competitive effect on similar facilities already constructed <br />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 Trust Indenture <br />and User Agreement, real estate mortgage and Industrial Development <br />Revenue Bond attached as exhibits thereto pertaining to the issu- <br />ance of the Industrial Development Revenue Bonds in accordance with <br />the terms of the Trust Indenture and User Agreement pertaining to <br />the application of Greenwood Realty Corporation, are hereby <br />approved and adopted. <br />Section 2. Said forms of Trust Indenture and User <br />Agreement, real estate mortgage and Industrial Development Revenue <br />Bond which are on file with the Commission are hereby incorporated <br />by reference into this Ordinance, and said forms shall be inserted <br />into the minutes of the Common Council of the City of South Bend, <br />Indiana, and shall be kept on file by the City Clerk of South Bend, <br />Indiana. <br />Section 3. The Trust Indenture and User Agreement and <br />Bond shall be executed on behalf of the City of South Bend, Indi- <br />ana 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 Green- <br />wood Realty Corporation Project pursuant to the aforementioned Trust <br />Indenture and User Agreement, shall not be in any respect a general <br />obligation of the City, nor shall the bonds be paid in any manner <br />from funds raised by taxation and may be executed in amounts not to <br />exceed Nine Hundred Thousand Dollars ($900,000.00) repayable with <br />interest thereon at a rate not to exceed nine per cent (9 %) per <br />annum, payable in monthly installments over a period of ten (10) <br />years after the date of such bonds, and that such Trust Indenture <br />and User Agreement and such Industrial Development Revenue Bonds <br />shall be executed on behalf of the City of South Bend, Indiana, <br />-2- <br />