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and Char -King, Inc (-he "company") to s,. Joseph Ea k' and Trust <br />Company, as Trustee (the 'Trustee "), in order to zrovlde funds <br />with which to finance the acquisition, construction and equipping <br />of the Project, as defined in the Loan Agreement by and between <br />the Issuer and the Company (the "Original Loan Acreement ") dated <br />as of December 15, 1975. <br />Pursuant to an ordinance duly adopted by the Common <br />Council of the Issuer on December 15, 1975 and approved and <br />signed by the Mayor of the Issuer on December 17, 1975, the <br />Issuer has heretofore executed and delivered to the Trustee the <br />Original Indenture, whereby the Issuer granted, bargained and <br />conveyed to the Trustee, and its successors in said trust, cer- <br />tain property of the Company including the Project to be held by <br />the Trustee in trust in accordance with the provisions of the <br />Original Indenture for the equal and proportionate benefit, <br />security and protection of all bonds issued and to be issued <br />thereunder in accordance with the provisions thereof. <br />The Issuer is authorized by law and deems it necessary <br />to borrow additional moneys for the purpose or paying the cost of <br />completing the Project and carrying out its obligations under the <br />First Supplemental Loan Agreement, as hereinafter defined. <br />It is necessary to amend the Original Indenture to, <br />among other things, authorize the issuance of additional parity <br />bonds, and the Issuer desires to provide for the issuance under <br />the Original Indenture, as supplemental and amended by the First <br />Supplemental Indenture, as hereinafter defined (said Original <br />Indenture as supplemented by the First Supplemental Indenture is <br />hereinafter referred to as the "Indenture ") of a new series, <br />namely the Series 1978 Bonds, as hereinafter defined, to be dated <br />and to mature as provided herein and to be secured by and to <br />contain such terms and provisions as are set forth in the Inden- <br />ture. <br />The Issuer has made the necessary arrangements with the <br />Company for the financing of the completion of the Project. <br />