$8,000,000 Economic Development Revenue Bonds Brethren Care of South Bend

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Section 8. 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 be secured by a mortgage on the Project from the Company to the Trustee in substantially the form attached as Exhibit C to the Loan Agreement. Section 9. The Series A Bonds shall be sold to Stix & Co. Inc., St. Louis, Missouri, pursuant to a Bond Purchase Agreement in the form before the meeting of the Common Council at which this Bond Ordinance is adopted at a rate or-rates of interest not to exceed _2,�L__% per annum and at a price of not less than 96% of the principal amount thereof, the exact rate or rates and price to be set forth in the Bond Purchase Agreement and approved by Stix & Co. Inc. and the Company. The Mayor and City Clerk are authorized to execute and deliver such Bond Purchase Agreement in substantially the form before the meeting at which this Bond Ordinance is adopted. Section 10. The distribution of a Preliminary Official Statement in the form presented to the meeting at which this Bond Ordinance is adopted and the distribution of a final Official Statement in substantially the form of the Preliminary Official Statement, with such changes and modifications therein, as shall be'approved by the Mayor, with an appendix containing information furnished by the Company, is hereby approved, and the Mayor is hereby authorized to execute such final Official Statement. Section 11. General. The Mayor, City Clerk, City Controller and City Treasurer be and they are each hereby authorized and directed, in the name of 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. Section 12. Effective Date. This Bond Ordinance shall be in full force and effect from and after passage and approval as provided by law. i // p cer of the Common Counc ATTEST: v FILED IN CLERK'S OFFICE City Clerk 1978' AUG �. 8 1978 Presented to the Mayor by me this day of , y Irene Gamrw,o CITY CLERK, SOUTH BEND, IND. City Clerk Approved by me this day of 1st READINd -gs- • i 8' PUBLIC HEARING $P—//. C 1978.