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Thermoplastics, Inc., an Indiana corporation, under the Act was <br />approved after finding that such proposed financing for such entity <br />would be of benefit to the health of welfare of the City of <br />South Bend, Indiana. <br />NOW, THEREFORE, BE IT RESOLVED, by the Common Council of <br />the City of South Bend, Indiana, that; <br />Section 1. The form and terms of the Lease and Trust <br />Indenture and Industrial Development Bonds pertaining to the <br />Thermoplastics, Inc, an. Indiana corporation, facilities and the <br />issuance of the Industrial Development Revenue Bonds pursuant <br />thereto are hereby approved and adopted. <br />Section 2. Said forms of Lease and Trust Indenture <br />together with Industrial Development Revenue Bonds which are on <br />file with the Commission are hereby incorporated by reference into <br />this Ordinance, and said forms shall be inserted into the minutes <br />of the Common Council of the City of South Bend, Indiana, and <br />shall be kept on file by the City Clerk of South Bend, Indiana. <br />Section 3. SAid Industrial Development Revenue Bonds <br />payable solely and only from the revenue derived from such <br />Thermoplastics Inc,an Indiana corporation, facilities, may be <br />issued in amounts not to exceed $280,000.00 for a period of <br />Eight (8) years, with the terms of said Lease and Trust Indenture <br />and that such Bonds shall be executed on behalf of the City of <br />South Bend, Indiana, by the Mayor and City Clerk of South Bend, <br />Indiana, and shall be sealed with the corporate seal of said City. <br />Section 4. This Ordinance shall be in full force and <br />effect from and after its passage by the Common Council and <br />approved by the Mayor. <br />