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Simon Bros., Incorporated, an Indiana Corporation, under the Act was <br />approved after a finding that such proposed financing for such <br />entity would be of benefit to the health or welfare of the City of <br />South Bend, Indiana. <br />NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the <br />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 <br />Simon Bros., Incorporated 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 Revunue 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 shall <br />be kept on file by the City Clerk of South Bend, Indiana. <br />Section 3. The Lease and Trust Indenture and Industrial <br />Development Bonds shall be executed on beholf of the City of South <br />Bend, Indiana, by the Mayor and City Clerk and sealed with the <br />corporate• seal of such City. <br />Section 4. Said Industrial Development Revenue Bonds <br />payable solely and only from the revenue derived from such <br />Simon Bros., Incorporated, an Indiana Corporation, facilities, may be <br />issued in amounts not to exceed $200,000.00 for a perior of Fifteen <br />(15) years, with the terms of said Lease and Trust Indenture and that <br />such Bonds shall be executed on behalf of the City of South Bend, <br />Indiana, by the Mayor and City Clerk of South Bend, Indiana, and shall <br />be sealed with the corporate seal of 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 />