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procuring funds to loan to Express Freight Lines, Inc., in <br />order to pay the cost of acquisition, construction, <br />installation and equipping of the economic development <br />facilities, as more particularly set out in the Loan Agreement <br />and Mortgage and Trust Indenture incorporated herein by <br />reference, which Bonds will be payable as to principal, <br />premium, if any, and interest solely from the payments <br />made by Express Freight Lines, Inc., on its promissory note <br />which will be executed and delivered by Express Freight <br />Lines, Inc., to evidence and secure said loan and from <br />other sources under the Loan Agreement, or as otherwise <br />provided in the above - described Mortgage and Trust Indenture. <br />The Bonds shall never constitute a general obligation of, <br />an indebtedness of, or a charge against the general credit <br />of the City of South Bend. <br />SECTION 4. The Mayor, Clerk and Controller are <br />authorized and directed to sell such Bonds to the purchaser <br />set forth in the Bond Purchase Agreement at rates of interest <br />on the Bonds not to exceed 8.00% per annum and at a price of <br />100% of the principal amount thereof plus accrued interest. <br />SECTION 5. The Mayor and Clerk are authorized <br />and directed to execute the Loan Agreement, the Mortgage <br />and Trust Indenture, the Bond Purchase Agreement and the <br />Bonds approved herein on behalf of the City of South Bend. <br />The Mayor, Clerk and Controller are authorized to execute <br />any coupons on the Bonds and any other documents which may <br />be necessary or desirable to consummate the transaction. The <br />signatures of the Mayor, Clerk and Controller on the Bonds <br />and coupons may be facimile signatures. The Clerk and <br />-3- <br />