Approving Economic Development Bonds - South Bend Forge Inc

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interests to evidence and secure such indebtedness and to provide for additional revenues, as described in Title 18, Article 6, Chapter 4.5 -18 of the Act, sufficient to pay the principal of and premium, if any, and interest on such revenue bonds, (d) secure such revenue bonds by a supple- mental trust indenture and by a pledge and assignment of revenues, as provided for herein, and (e) enact this Bond Legislation and enter into the First Supplemental Trust Indenture, the First Supplemental Loan Agreement, the First Supplemental Mortgage and the acceptance and assignment of the First Supplemental Mortgage, all as hereinafter defined, upon the terms and conditions provided therein; WHEREAS, by Ordinance duly passed on August 1, 1979 (hereinafter called the "Original Bond Legislation "), the Issuer authorized the aggregate principal amount of $6,000,000 City of South Bend Economic Development First Mortgage Revenue Bonds, (South Bend Forge, Inc. Project) (ABS Industries, Inc. - Guarantor), for the purpose of making a loan to assist the Company in the financing of costs of acquiring, constructing and equipping real and personal property, comprising economic development facilities to be owned and operated by the Company, for the Project Purpose, including costs incidental thereto and to the financing thereof; and WHEREAS, in order to provide revenues sufficient to pay the principal of and premium, if any, and interest on such Bonds (hereinafter and in the Original Bond Legislation called the "Project Bonds "), the Issuer and the Company entered into a Loan Agreement dated as of July 1, 1979 (hereinafter called the `Original Agreement "); and WHEREAS, in order to secure the Project Bonds, the Issuer and First Bank and Trust Company of South Bend, South Bend, Indiana, as Trustee, entered into a Trust Indenture dated as of July 1, 1979 (hereinafter called the `Original Indenture "); and -2-