Approving Revenue Bonds National Computing Corp

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WHEREAS, on the 8th day of April, 1974, this Common Council of the City of South Bend, Indiana, adopted a resolution pursuant to which':)such financing of such facilities for National Computing Corporation under the Act was approved after a finding that such proposed financing for such entity would be of bene- fit 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 Economic Development Revenue Bonds pertaining to National Computing Corporation facilities and the issuance of Economic Development Bonds pursuant thereto are hereby approved and adopted. Section 2. Said forms of Lease and Trust Indenture together with Economic 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 Economic 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, but such execution shall not take place until the elapse of twenty (20) days following the adoption of this Ordinance as provided by law. Section 4. Said Economic Development Revenue Bonds, payable solely and only from the revenue derived from such National Computing Corporation facilities, may be issued in amounts not to exceed $700,000.00 for a period of twenty (20) years duration from the date of the issuance of such bonds 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, Indiana,