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City of South Bend, Indiana, that: <br />Section 1. The form and terms of the Loan Agreement and <br />Trust Indenture, Real Estate Mortgage and Industrial Development <br />Revenue Bond pertaining to ARNOLD C. and DELORES GILMAN Project <br />and the issuance of the Industrial Development Revenue Bond <br />Pursuant thereto are hereby approved and adopted. <br />Section 2. Said forms of Loan Agreement and Trust <br />Indenture, Real Estate Mortgage together with the Industrial <br />Development Revenue Bonds which are on file with the Commission, are <br />hereby incorporated by reference into this Ordinance, and said forms <br />shall be inserted into the minutes of the Common Council of the City <br />of South Bend, Indiana, and shall be kept on file by the City Clerk <br />of South Bend, Indiana. <br />4 <br />Section 3. Said Loan Agreement and Trust Indenture shall <br />be executed on behalf of the City of South Bend, Indiana, by the <br />Mayor and City Clerk and sealed with the corporate seal of such City. <br />Section A. Said Industrial Development Revenue Bonds, <br />payable solely and only from the revenues derived from such ARNOLD <br />C. and DELORES GILMAN facilities, pursuant to the aforementioned Loan <br />Agreement and Trust Indenture, may be executed in the amounts not to <br />exceed Eighty Thousand ($80,000.00) Dollars, repayable with interest <br />thereon at a rate not to exceed eight and one -half (8 -1/2 %) percent <br />per annum, payable in monthly installments over a period not exceeding <br />twenty (20) years after the date of such bonds and that such Loan <br />Agreement and Trust Indenture and such Industrial Development Revenue <br />Bonds shall be executed on behalf of the City of South Bend, Indiana <br />by the Mayor and City Clerk and sealed with the corporate seal of <br />such City. <br />Section 5. This Ordinance shall be in full force and effect <br />from and after its passage by the Common Council and approved by the <br />Mayor. <br />Member of t I e Common Council <br />1st READING <br />PUBLIC HEARING *� �``% 2 % �R <br />?n� READING /`� o'�� IViA�/ C� I <br />410 i APPROVED, <br />REFERRED gr f , y <br />PASSED r -/ c/- Can �k h��� <br />�� �F • � z re CITY CLERK, 50111 BEND, 1N0. <br />