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-EN 11615 <br />08/03/78 <br />100103 -C /mrr <br />ORDINANCE NO. <br />AN ORDINANCE of the CITY OF SOUTH BEND, <br />INDIANA authorizing the issuance and sale of <br />additional revenue bonds for the purpose of <br />loaning the proceeds to CHAR -KING, INC. for <br />the purpose of financing the completion of <br />certain economic development facilities which <br />were originally financed by the City; autho- <br />rizing the execution and delivery of a First <br />Supplemental Loan Agreement between the City <br />and Char -King, Inc.; authorizing the execu- <br />tion and delivery of a First Supplemental <br />Mortgage and Indenture of Trust securing said <br />bonds; and confirming the sale of said bonds <br />to the purchaser hereof, and certain other <br />related matters. <br />The City of South Bend, Indiana, a municipal corpor- <br />ation organized and existing under and by virtue of the laws of <br />the State of Indiana (hereinafter referred to as the "Issuer "), <br />is authorized and empowered by the provisions of Title 18, Arti- <br />cle 6, Chapter 4.5 of the Indiana Code of 1971, as amended (the <br />"Act ") to issue its economic development revenue bonds to finance <br />in whole or in part the cost of the acquisition and construction <br />of certain economic development projects in order to provide for <br />the diversification of economic development facilities and provide <br />an additional tax base in and near the City of South Bend. <br />The Issuer is further authorized by the Act to secure <br />such revenue bonds by a pledge of the income and revenues derived <br />by the Issuer from such facilities, and the Act provides that the <br />financing agreement between the Issuer and the user of the facili- <br />ties shall provide for payments in an amount not less than an <br />amount sufficient to pay the principal of, premium, if anv, and <br />interest on the bonds authorized for the financing of the facili- <br />ties. <br />The Issuer has heretofore issued its Economic Develop- <br />ment Revenue Bonds (Char -King, Inc. Project) in the principal <br />amount of $1,100,000 (the "Series 1975 Bonds ") under the provi- <br />sions of the Act and a Mortgage and Indenture of Trust dated as <br />of December 15, 1975 (the "Original Indenture ") from the Issuer <br />