Revenue Bonds Pertaining to Gates Realty Inc

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THORNBURG. MCGILL. OEAHL. HARMAN. CAREVa MURRAY 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 Economic Development Revenue Bonds pertaining to (Gates Realty, Incorporated facilities and the issuance of the Economic Development Bonds pursuant thereto are hereby approved and adopted. Section 2. Said forms of Lease and Trust Indenture together with Economic Development Revenue Bonds 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. The Lease and Trust Indenture and Economic Development Revenue Bonds shall be executed on behalf of the City of South Bend, Indiana by the Mayor and City Clerk and sealed with the corporate seal of such City. Section 4. The Ordinance No. 5748 -74 previously enacted by this Council is hereby vacated and shall be of no force and effect. Section 5. Said Economic Development Revenue Bonds, payable solely and only from the revenue derived from such Gates Realty, Incorporated facilities, may be issued in amounts not to exceed Two Hundred Thousand ($200,000.00) Dollars for a period of twenty (20) years duration from the date of the issuance of such bonds in accordance with the terms of said Lease and Trust Indenture and that such bonds shall be executed on behalf of the City of South Bend, Indiana by the Mayor and City Clerk of South Bend, Indiana, and shall be sealed with the corporate seal of said City. Section 6. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approved by the Mayor. Presented byc''L� -2 Councilman