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Office Plaza Associates Project and the issuance of the Economic Development <br />Revenue Bonds pursuant thereto are hereby approved and adopted. <br />Section 2. Said forms of Indenture of Trust and Loan Agreement, to- <br />gether with the Note and Mortgage attached as an exhibit thereto, and the <br />Economic Development Revenue Bonds which are on file with the Commission, <br />are hereby incorporated by reference into this Ordinance, and said forms <br />shall be inserted into the minutes of the Common Council of the City of <br />South Bend, Indiana. <br />Section 3. Said Loan Agreement and Indenture of Trust shall be exe- <br />cuted on behalf of the City of South Bend, Indiana, by the Mayor and City <br />Clerk and sealed with the corporate seal of such City. <br />Section 4. Said Economic Development Revenue Bonds, payable solely <br />and only from the revenues derived from such River Glen Office Plaza Asso- <br />ciates Project pursuant to the aforementioned Loan Agreement and Indenture <br />of Trust will not be in any respect a general obligation of the City, nor <br />may the Bonds be paid in any manner from funds raised by taxation, and <br />may be issued in amounts not to exceed $1,428,000 repayable with interest <br />thereon at the rate of 8 -3/4% per annum, over a term of 15 years, in accordance <br />with the terms of said Loan Agreement and Indenture of Trust and that such <br />Bonds shall be executed on behalf of the City of South Bend, Indiana, by <br />the Mayor and City Clerk of South Bend, Indiana, and sealed with the corporate <br />seal of said City. <br />Section 5. Resolution No. 29 -79 of the South Bend Economic Develop- <br />ment Commission, passed on October 5, 1979, is hereby approved; and the <br />Common Council of the City of South Bend, Indiana, hereby finds that the <br />proposed financing for the issuance of the Economic Development Revenue <br />Bonds would be of benefit to the health and welfare of the City of South <br />Bend, and that it complies with the purposes and provisions of the Act. <br />Section 6. This Ordinance shall be in full force and effect from <br />and after its passage by the Common Council and approved by the Mayor. <br />Member of e Common Council <br />1st RE ADING <br />PUILIC NEARING <br />2nd READING i OV c' <br />I'� <br />NOT APPRO <br />REFERREQ ` Y <br />PASSED CfTY CLERK, SCUM BUND, [NO, <br />