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Authorizing Issurance $6,000,000 Economic Development First Mortgage Revenue Bonds - South Bend Forge Inc
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Authorizing Issurance $6,000,000 Economic Development First Mortgage Revenue Bonds - South Bend Forge Inc
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6/4/2013 4:09:34 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/13/1979
Ord-Res Number
6622-79
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"State" means the State of Indiana. <br />"Trustee" means the trustee under the Indenture, originally <br />First Bank and Trust Company of South Bend, and any successor Trustee as <br />determined or designated under or pursuant to the Indenture. <br />Any reference herein to the Issuer, to the Legislative Authority, <br />or to any officers thereof, shall include those which succeed to their <br />functions, duties or responsibilities pursuant to or by operation of law <br />or who are lawfully performing their functions. Any reference to a section, <br />provision or chapter of the Indiana Code shall include such section or <br />provision or chapter as from time to time amended, modified, revised, <br />supplemented, or superseded, provided that no such amendment, modification, <br />revision, supplementation, or supersession shall alter the obligation to <br />pay the Bond service charges in the amount and manner, at the times, and <br />from the sources provided in the Bond Legislation and the Indenture, except <br />as otherwise herein permitted. <br />Words of the masculine gender shall be deemed and construed to <br />include correlative words of the feminine and neuter genders. <br />Unless the context shall otherwise indicate, words importing the <br />singular number shall include the plural number, and vice versa, and the <br />terms "hereof ", "hereby ", "hereto ", "hereunder ", and similar terms, mean <br />this Bond Legislation and the Indenture. <br />Section 4. Determinations of Legislative Authority. It is hereby <br />determined that (a) the Project is an economic development facility as <br />defined in the Act; (b) the utilization of the Project is in furtherance <br />of the purposes of the Act and will benefit the people of the State by <br />promoting the health, prosperity, economic stability and general welfare <br />of the people of the Issuer and the State by assisting in the reduction <br />of insufficient employment opportunities; and (c) the provision of loan <br />assistance in the financing of costs of constructing, equipping and improving <br />- 9 - <br />
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