Authorizing $1,100,000.00 Economic Development Revenue Bonds - Laidig Silo Unloaders Inc

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Prior to the issuance, sale or delivery of any such Addi- tional Bonds, the Common Council shall adopt and approve an appro- priate resolution or resolutions and ordinance or ordinances author- izing execution and delivery of a supplement to the Agreement and a Supplemental Indenture and the issuance of such additional Bonds. Section 7. Sale of the Bonds: The Mayor and the Clerk of the City are hereby authorized and directed to sell the Bonds to the American Pletcher National Bank and Trust Company of Indianapolis, Indiana, at a price of par, plus accrued interest from the date of the bonds to the date of delivery and payment therefor. Section 8. Indenture: In order to secure the payment of the principal of and interest on the Bonds, the Mayor and Clerk shall execute, acknowledge and deliver in the name and on behalf of the City, an Indenture of Trust, herein identified as and called the "Indenture ", in the final form submitted to the Common Council, which is hereby approved in all respects; and the Clerk is hereby directed to insert a copy thereof in the form submitted to this meeting and approved hereby, in the minutes of this Common Council and to certify thereon that the same is the form of Indenture so submitted to this Common Council and approved by this Bond Ordinance and identified herein as the Indenture and to keep such Indenture on file. Said Indenture contains provisions authorized and per- mitted by the Act, and this Bond Ordinance shall constitute a part thereof as therein provided and for all purposes of said Indenture, including the provisions thereof relating to amendments and the serverability of provisions of the Indenture. Section 9. Loan Agreement, Mortgage and Security Agreement: In order to provide for the loaning of the proceeds of the Bonds to acquire and construct the Project and the payment by the User of an amount sufficient to pay the principal of and premium, if any, and interest on the Bonds, the Mayor and Clerk shall execute, acknow- ledge and deliver in the name and on behalf of the City a Loan Agree-