Approving Industrial Development Revenue Bonds - Koontz Wagner Electric Co inc

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NOW, THEREFORE, BE IT ORDAINED by the the City of South Bend, Indiana, that: Section 1. The form and terms of the Industrial Development Revenue Bonds pertaining Electric Company, Inc. Project and the issuance Development Revenue Bonds pursuant thereto are adopted. Common Council of Trust Indenture and to Koontz - Wagner of the Industrial zereby approved and Section 2. Said forms of Trust Indenture together with Industrial Development Revenue Bonds which are on file with the Commission are hereby incorporated by reference into this Ordinance, and said forms shall be inserted into the minutes of the Common Council of the City of South Bend, Indiana, and shall be kept on file by the City Clerk of South Bend, Indiana. Section 3. Said Trust Indenture shall be executed on behalf of the City of South Bend, Indiana by the Mayor and City Clerk and sealed with the corporate seal of such City. Section 4. Said Industrial Development Revenue Bonds, payable solely and only from the revenues derived from such Koontz - Wagner Electric Company, Inc. Project pursuant to the aforementioned Trust Indenture may be issued in amounts not to exceed Eight Hundred Thousand Dollars ($800,000.00) repayable with interest thereon at the rate of eight per cent (8%) per annum, in installments as follows: Six Thousand Six Hundred Ninety -one and 601100 Dollars ($6,691.60) on or before the expiration of each one (1) month after the date hereof until the expiration of twenty (20) years after the date thereof when all unpaid principal and interest shall be due and payable, all in accordance with the terms of said Trust Indenture and that such bonds shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and City Clerk of South Bend, Indiana, and shall be sealed with the corporate seal of said City. -2-