Approving Revenue Bonds Koontz-Wagner Electric Co Inc

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WHEREAS, on the i4t�day of C9e�e2,_o� , 1974, this Common Council of the City of South Bend, Indiana, adopted a resolution pursuant to which such financing of such facilities for Koontz- Wagner Electric Company, Inc. under the Act was approved after a finding that such proposed financing for such entity would be of benefit to the health or welfare of the City of South Bend, Indiana. 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 Industrial Development Revenue Bonds pertaining to Koontz- Wagner Electric Company, Inc. facilities and the issuance of the Industrial Development Revenue Bonds pursuant thereto are hereby approved and adopted. Section 2. Said forms of Lease and Trust Indenture together with Industrial 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 Industrial 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. Said Industrial Development Revenue Bonds, payable solely and only from the revenue derived from such Koontz- (Wagner Electric Company, Inc. facilities, may be issued in amounts not to exceed $105,000.00 for a period of twenty (20) years from January 1, 1975 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, l!Indiana, and shall be sealed with the corporate seal of said City. Section 5. This Ordinance shall be in full force and effect from and after its passage by the Common Council and rHORNDURG. approved by the Mayor. McGLLL OEAH!, HARMAN, {' (� CARLY & MURRAY Presented by Councilman -2-