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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, <br />Mortgage and Note, Security Agreement and Financing Statements, <br />a Trust Indenture and Industrial Development Revenue Bonds pertain- <br />ing to Mossberg & Company, Inc. facilities and issuance of the <br />Industrial Development Revenue Bond pursuant thereto are hereby <br />approved and adopted. <br />Section 2. Said form of Loan Agreement, Mortgage and <br />Note, Security Agreement and Financing Statements and a Trust <br />Indenture together with Industrial Development Revenue Bonds which <br />are on file with the Commission are hereby incorporated by reference <br />into this Ordinance, and said forms shall be inserted into the <br />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, Mortgage and Note, <br />Security Agreement and Financing Statements and a Trust Indenture <br />shall be executed on behalf of the City of South Bend, Indiana <br />by the Mayor and City Clerk and sealed with the corporate seal <br />of such City. <br />Section 4. Said Industrial Development Revenue Bonds, <br />payable solely and only from the revenue derived from such Mossberg <br />& Company facilities, may be issued in a total aggregate principal <br />amount not to exceed Seven Hundred Fifty Thousand and no /100 Dollars <br />($750,000.00) for a period not exceeding fifteen (15) years after <br />the first monthly installment due thereon, in accordance with the <br />terms of said Loan Agreement, Mortgage and Note, Security Agreement, <br />Financing Statements and Trust Indenture and that such Bonds shall <br />be executed on behalf of the City of South Bend, Indiana, by the <br />Mayor and City Clerk of South Bend, Indiana, and shall be sealed <br />with the corporate seal of such City. <br />Section 5. Resolution No. 12 -80 of the South Bend <br />Economic Development Commission passed on April 18, 1980, is <br />hereby approved and the Common Council of the City of South <br />Bend hereby finds that the proposed financing for the issuance <br />-2- <br />