Authorizing $5,000,000 Economic Development Revenue Bonds - Brethren Care of South Bend Inc Project

Home Browse Search

and 2. the form of.1979 Series B >Note to be executed by the Corporation, delivered to the Issuer and assigned by the Issuer to the Trustee concurrently with the issuance of the 1979 Series B Bonds; and 3. the form of Indenture from the Issuer to the Trustee, including the form of 1979 Series B Bond; and 4. the form of Bond Purchase Agreement (the "Bond Purchase Agreement "), by and between the Issuer and Stix & Co. Inc., St. Louis, Missouri (the "Original Purchaser "), and approved by the Corporation, pursuant to the terms of which the Issuer has agreed to sell, and the Original Pur- chaser has agreed to buy, the 1979 Series B Bonds; and 5. the draft form of Preliminary Official Statement (the "Preliminary Official Statement "), describing the Project, the financing of the Project and the source of payment of and security for the 1979 Series B Bonds; WHEREAS, it appears that each of the instruments above referred to and now before this meeting is in appropriate form and is an appropriate instrument to be executed and delivered by the Mayor and the City Clerk for the purposes intended: NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, AS FOLLOWS: Section 1. Approval of the Project; Compliance with the Act. The financing of the balance of the costs of acquiring, constructing and equipping the Project through the issuance and sale of the 1979 Series B Bonds, as hereinafter provided, is hereby authorized and approved and determined to be of benefit to the health and welfare of the Issuer and its residents and in compliance with the purposes and provisions of the Act. Section 2. Approval of and Authorization of the Terms of the 1979 Series B Bonds. For the purpose of financing the balance of the costs of acquiring, constructing and equipping the