$1,300,000.00 Economic Development Revenue Bonds - Simon Bros. Inc

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directed to sell the Series A Bonds to or upon the order of First Bank and Trust Company of South Bend at a price of $1,300,000, plus accrued interest to the date of delivery and payment. Section 5. Indenture. In order to secure the payment of the principa oT and interest on the Bonds, the Mayor and City Clerk shall execute, acknowledge and deliver, in the name and on behalf of the City, an Indenture of Trust in substantially the form submitted to this Common Council, which is hereby approved in all respects. Section 6. Loan Agreement. In order to provide for the loan of the proceeds of the Series A Bonds to acquire and construct the Project and the payment by the Company of an amount sufficient to pay the principal of and premium, if any, and interest on the Series A Bonds, the Mayor and City Clerk shall execute, acknowledge and deliver in the name and on behalf of the City a Loan Agreement in substantially the form submitted to this Common Council, which is hereby approved in all respects. Section 7. Acceptance of Series A Note. In connection with the Series A Bonds, the City accepts as security for such Series A Bonds the Series A Note of the Company. The Series A Note shall be in substantially the form attached as Exhibit B to the Loan Agreement and shall contain the provisions set forth in subsections (a) through (g) of Section 4.2 of the Loan Agreement. Section 8. General. The Mayor, City Clerk, City Controller and County Treasurer ex officio City Treasurer be and they are each hereby authorized and directed, in the name and on behalf of the City, to execute any and all instruments, perform any and all acts, approve any and all matters, and do any and all things deemed by them, or any of them, to be necessary or desirable in order to carry out the purposes of this Bond Ordinance (including the preambles hereto), the acquisition and construction of the Project by the Company, the issuance and sale of the Series A Bonds, and the securing of the Series A Bonds under the Indenture. Section 9. Effective Date. This Bond Ordinance shall be in full force and effect immediately upon its adoption by the Common Council and approval by the Mayor. Presented by Councilman Passed in open Council this day of 1979• ATTEST: City Clerk 1st READING PUBLIC NEARING �• g • i 5 2nd READING NOT APPROVED 7 REFERRED PASSED .7- C3. 7 C 9 — QZ -- r.. , bA 1{eo+k 6f the—Common Council Member IF t j q r'! 'l�" JUN 2 0 1979 C11Y CLERK, SGu-fl BEND, IND.