Approving Revenue Bonds FBT Bancorp Inc

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NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, that: Section 1. The form and terms of the Lease and Trust Indenture and the Industrial Development Revenue Bond or Bonds pertaining to the aforementioned application, being; the FBT Bancorp, Inc. Project, and the issuance of the Industrial Development Revenue Bond or Bonds pursuant thereto, are hereby approved and adopted. Section 2. Said form of Lease and Trust Indenture, together with said form of Industrial Development Revenue Bond, which are on file with the Commission, are hereby incorporated by reference into this ordinance and said forms shall be inserted into the minutes of the Common Council of the City of South Bend, Indiana, and shall be kept on file by the City Clerk of South Bend, Indiana. Section 3. Said Lease and Trust Indenture shall be executed on behalf of the City of South Bend, Indiana, and sealed with the corporate seal of such City. Section 4. The Industrial Development Revenue Bond or Bonds to be issued pursuant to such Lease and Trust Indenture shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and the City Clerk of South Bend, Indiana, and shall be sealed with the corporate seal of said City and be payable fully and only from the revenues derived from such FBT Bancorp, Inc. Project pursuant to the aforementioned Lease and Trust Indenture for a bond issue of Eight Hundred Forty -seven Thousand Dollars ($847,000.00) repayable with interest thereon at the rate of five and three - fourths Der cent (5 -3/40) per annum, in installments over a period commencing April 1, 1978 and ending April 1, 1990, as more particularly set forth in the form of Lease and Trust Indenture and Bond as approved by this ordinance. Section 5. The proceeds of this Industrial Development Revenue Bond issue shall be used and applied in accordance with the terms of such Lease and Trust Indenture and a deed of conveyance shall be executed and delivered on behalf of the City of South Bend, Indiana, reconveying to FBT Bancorp, Inc. the real estate described on Exhibit B to such Lease and Trust Indenture, which said real estate is the -3-