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.............. <br />WHEREAS, on the day of 1974, this <br />Common Council of the City of South Bend, Indiana, adopted a <br />resolution pursuant to which such financing of such facilities for <br />General Sheet Metal, Inc. under the Act was approved after a finding <br />that such proposed financing for such entity would be of benefit <br />to 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 an& -Trust <br />Indenture and Economic Development Revenue Bonds pertaining to <br />General Sheet Metal, Inc. facilities and the issuance of the Economic <br />Development Bonds pursuant thereto are hereby approved and 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 <br />General Sheet Metal, =Inc. facilities, may be issued in amounts not <br />to exceed $35,000.00 for a period of ten (10) years duration from <br />the date of the issuance of such bonds in accordance with the terms <br />