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ORDINANCE NO. (, / ° 2 2 <br />AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND <br />TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS, <br />AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO <br />FBT BANCORP, INC., AN INDIANA CORPORATION <br />(FBT BANCORP, INC. PROJECT) <br />.qTAr rmT� T:TT np PTTPPn.gT? nP TT M7' -1T'P <br />The Common Council of the City of South Bend, Indiana, <br />heretofore has created the South Bend Economic Development Commis- <br />sion, hereinafter referred to as "Commission ", pursuant to the <br />provisions of the Public Law No. 182 of the Acts of the General <br />Assembly of Indiana for 1973, as such may be amended from time to <br />time, including but not limited to IC 18- 6 -4.5 -2 through <br />IC 18- 6- 4.5 -28, hereinafter referred to as the "Act"; and <br />FBT BANCORP, INC., an Indiana corporation, has filed an <br />application with the Commission_ to finance the accuisition of certain <br />real estate and the construction of certain improvements thereon which <br />will constitute economic development facilities resulting in a <br />substantial number of additional employees, as well as other benefits, <br />with respect to an Industrial Development Revenue Bond issue in the <br />amount of Eight Hundred Forty -seven Thousand Dollars ($847,000.00), <br />repayable with interest thereon at the rate of five and three- fourths <br />per cent (5 -3/4 %) per annum in installments over a period commencing <br />April 1, 1978 and ending April 1, 1990, as more particularly set forth <br />in the proposed form of bond and proposed form of Lease and Trust <br />Indenture submitted with such application, which such application_ <br />provides: <br />A. That such Industrial Development Revenue Bond issue <br />shall be for a principal amount of Eight Hundred Forty- seven'Thousand <br />Dollars ($847,000.00), repayable with interest thereon at the rate <br />of five and three fourths per cent (5 -3/4 %) per annum in installments <br />over a period commencing April 1, 1978 and ending April 1, 1990, <br />as more particularly set forth in the form of.bond and form of Lease <br />and Trust Indenture being approved by this ordinance. <br />B. That approximately Five Hundred Ninety -seven Thousand Dol- <br />lars ($597,000.00) or such lesser amount as shall be necessary, of such <br />Industrial Development Revenue Bond issue should be used to pay, retire <br />