Laserfiche WebLink
WHEREAS, on the " 17th day of December , 1973, this <br />Common Council of the City of South Bend, Indiana, adopted a <br />resolution pursuant to which such financing of such facilities <br />for Daal Realty, under the Act was approved after a finding that <br />such proposed financing for such entity would be of benefit to <br />the health or welfare of the City of South Bend, Indiana. <br />NOW, THEREFORE, BE IT ORDAINED 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 Economic Development Revenue Bonds pertaining to <br />Daal REalty facilities and the issuance of the Economic <br />Development Bonds pursuant thereto are hereby approved and <br />adopted. <br />Section 2. Said forms of Lease and Trust Indenture together <br />with Economic Development Revenue Bonds which are on file with <br />the Commission are hereby incorporated by reference into this <br />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. The Lease and Trust Indenture and Economic <br />Development Revenue Bonds shall be executed on behalf of the <br />City of South Bend, Indiana by the Mayor and City Clerk and <br />sealed with the corporate seal of such City, but such execution <br />shall not take place until the elapse of twenty (2p) days <br />following the adoption 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 <br />Daal REalty facilities, may be issued in amounts not to exceed <br />$400,000.00 for a period of not to exceed thirty (30) years <br />duration from the date of the issuance of such bonds in <br />