Industrial Development Revenue Bonds - Derby Inc Project

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City of South Bend, Indiana, that: Section 1. The form and terms of the Lease and Trust Indenture and Industrial Development Revenue Bond pertaining to DERBY, INC. Project and the issuance of the Industrial Development Revenue Bond pursuant thereto are hereby approved and adopted. Section 2. Said forms of Lease and Trust Indenture together with the Industrial Development Revenue Bonds which are on file with the Commission, are hereby incorpoated 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 Lease and 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 DERBY,INC. facilities, pursuant to the aforementioned Lease and Trust Indenture, may be executed in the amounts not to exceed One Hundred Eighty Thousand ($180,000.00) Dollars, repayable with interest thereon at a rate not to exceed nine (9a) percent per annum, payable in monthly installments over a period not exceeding twenty years and six months (20 years & 6 months) after the date of such bonds and that such Lease and Trust Indenture and such Industrial Development Revenue Bonds 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 5. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approved by the Mayor. -2- 1st READING ! — "I .7 9 PUBLIC HEAPING � 2nd READING NOT APPROVED REFERRED PASSED - w�s'•�� k:.tiz 16%g "Ji L4 . JUN 6 Irene Garrimon CITY CLERK, SOUTH 1330110, W.