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ORDINANCE NO. ' 791-940 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF <br />FIRST SUPPLEMENTAL LOAN AGREEMENT, FIRST <br />SUPPLEMENTAL TRUST INDENTURE, FIRST SUPPLE- <br />MENTAL MORTGAGE AND SECURITY AGREEMENT, <br />• ECONOMIC DEVELOPMENT BONDS FOR PRINCIPAL <br />AMOUNT OF $3,000,000.00, ASSIGNMENTS, ELECTIONS, <br />AUTHORIZING EXECUTION THEREOF AND APPROVING <br />SOUTH BEND ECON014IC DEVELOPMENT RESOLUTION <br />NO. 4 -80 FOR SOUTH BEND FORGE, INC. PROJECT <br />An ordinance authorizing the issuance of $3,000,000 <br />additional economic development first mortgage <br />revenue bonds of the City of South Bend, Indiana, <br />in the aggregate principal amount of $3,000,000 in <br />order to assist South Bend Forge, Inc. in the <br />financing of costs of acquisition, construction <br />and installation of additional economic development <br />facilities located within the boundaries of said <br />City, in order to carry out the public purposes of <br />the City, as set forth in the Municipal Economic <br />Development Act of 1965, as amended; providing for <br />the pledge of additional revenues for the payment <br />of said additional bonds; authorizing a First <br />Supplemental Loan Agreement, amending and supple- <br />menting the Loan Agreement dated as of July 1, <br />1979, with respect to the proceeds derived from <br />the sale of said additional bonds; and authorizing <br />a First Supplemental Trust Indenture, amending and <br />supplementing the Trust Indenture dated as of <br />July 1, 1979, for the protection and disposition <br />of such revenues and further to secure the payment <br />of said additional bonds; and authorizing the <br />acceptance of a First Supplemental Mortgage and <br />Security Agreement amending and supplementing the <br />Mortgage and Security Agreement, dated as of July 1, <br />1979 and an assignment thereof to provide further <br />security for said additional bonds. <br />WHEREAS, the City of South Bend (herein called the "Issuer ") is a <br />municipal corporation and political subdivision of the State of Indiana and <br />by virtue of the Municipal Economic Development Act of 1965, as amended, <br />Indiana Code of 1971, Title 18, Article 6, Chapter 4.5 (hereinafter called <br />the "Act ") is authorized and empowered to issue its revenue bonds for the <br />purpose of making a loan to the Company to assist in the financing to <br />acquire, construct and equip real and personal property comprising additional <br />"economic development facilities" as those words are defined in the Act to <br />be owned and operated by the Company; and <br />WHEREAS, the Act further authorizes the Issuer to (a) issue revenue bonds <br />of the Issuer in order to assist in the financing of costs of economic develop- <br />ment facilities as defined in the Act, (b) issue additional bonds on a parity <br />with bonds originally issued when so authorized and empowered by ordinance of <br />the Issuer, (c) enter into a supplemental loan agreement and to accept security <br />