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PAGE FOUR <br />to exceed Eighteen (18) years duration from the date of the issuance <br />of said Bond in accordance with the terms of the Lease and Trust <br />Indenture and such Bond shall be issued on behalf of the City of <br />South Bend, Indiana, by the Mayor and the City Clerk of the City of <br />South Bend, Indiana, and shall be sealed with the corporate seal of <br />the City. <br />Section 5. The Lease and Trust Indenture and Economic <br />Development Revenue Bond shall be executed on behalf of the City of <br />South Bend, Indiana, by the Mayor and the City Clerk. The Economic <br />Development Revenue Bond authorized by this Ordinance shall not be <br />and shall never constitute an indebtedness of or a charge against <br />the general credit or taxing power of the City of South Bend, nor <br />shall the Bonds be paid in any manner from funds raised by taxation. <br />The Bond shall be payable solely from revenues and receipts derived <br />pursuant to the terms of the Lease and Trust Indenture. <br />Section 6. Resolution Number 23 -79 of the City of South <br />Bend Economic Development Commission passed on August 3, 1979, is <br />hereby approved and the Common Council of the City of South Bend <br />hereby finds that the proposed financing for the issuance of the <br />Economic Development Revenue Bond would be of benefit to the health <br />and welfare of the City of South Bend and that it complies with the <br />purposes and provisions of T.C. 18 -6 -4.5 as amended and supplanted. <br />Section 7. The Mayor and the Clerk be and they each <br />hereby are, authorized and directed, in the name of and on behalf <br />of the City of South Bend to execute any and all instruments, per- <br />form any and all acts, approve any and all matters and do any and <br />all things deemed by them, or any of them, to be necessary or de- <br />sirable in order to carry out the provisions of this Bond Ordinance. <br />Section 8. This Bond Ordinance shall be in full force <br />and effect from and after its passage, due attestation and approval <br />by the Mayor as provided by law. <br />embevof the Common Co it <br />}st READIiNC� S 3 -1 g ? <br />PUBLIC HEARING Tf - a - ) <br />READING ALG 7 1979 <br />NOT APPROVED � � ? - � � <br />REFERRED Irene Gammon <br />PASSED .2 7- 2 d CITY CLERK, SOUTH I3MO, IND. <br />7 <br />