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NOW, THEREFORE, BE IT ORDAINED by the Common Council <br />of the City of South Bend, Indiana, that: <br />Section 1. The form and terms of the Lease and Trust <br />Indenture and Economic Development Revenue Bonds pertaining to <br />Gates Realty, Incorporated facilities and the issuance of the <br />Economic Development Bonds pursuant thereto are hereby approved and <br />adopted. <br />Section 2. Said forms of Lease and Trust Indenture <br />together with Economic Development Revenue Bonds which are on file <br />with the Commission are hereby incorporated by reference into this <br />Ordinance, and said forms shall be inserted into the minutes of <br />the Common Council of the City of South Bend, Indiana, and shall <br />be kept on file by the City Clerk of South Bend, Indiana. <br />Section 3. The Lease and Trust Indenture and Economic <br />Development Revenue Bonds shall be executed on behalf of the City <br />of South Bend, Indiana by the Mayor and City Clerk and sealed with <br />the corporate seal of such City, but such execution shall not take <br />place until the elapse of twenty (20) days following the adoption <br />of this Ordinance as provided by law. <br />Section 4. Said Economic Development Revenue Bonds, <br />payable solely and only from the revenue derived from such Gates <br />Realty, Incorporated facilities, may be issued in amounts not to <br />exceed Two Hundred Fifty Thousand ($250,000.00) Dollars for a <br />period of twenty (20) years duration from the date of the issuance <br />of such bonds in accordance with the terms of said Lease and Trust <br />Indenture and that such bonds shall be executed on behalf of the <br />City of South Bend, Indiana by the Mayor and City Clerk of South <br />Bend, Indiana, and shall be sealed with the corporate seal of <br />said City. <br />Section 5. 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 />Presented by <br />Councilman <br />