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Approving Revenue Bonds Ironwood Partnership
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Approving Revenue Bonds Ironwood Partnership
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Last modified
11/25/2013 3:26:22 PM
Creation date
11/25/2013 11:11:34 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
9/24/1973
Ord-Res Number
5583-73
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WHEREAS, on the -� Y 9lday of NY, , 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 Ironwood Partnership under the Act was approved after a <br />finding that such proposed financing for such entity would <br />be of benefit to the health or welfare of the City of South <br />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 />Ironwood Partnership facilities andthe issuance of the <br />Economic Development Bonds pursuant thereto are hereby approved <br />and adopted. <br />Section 2. Said form of Lease and Trust Indenture together <br />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 <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 shal <br />City of South Bend, Indiana by <br />sealed with the corporate seal <br />shall not take place until the <br />following the adoption of this <br />Section 4. Said Economic <br />L be executed on behalf of the <br />the Mayor and City Clerk and <br />of such City, but such execution <br />elapse of twenty (20) days <br />Ordinance as provided by law. <br />Development Revenue Bonds, <br />payable solely and only from the revenue derived from such <br />Ironwood Partnership facilities, may be issued in amounts not <br />to exceed $300,000.00 for a period of twenty (20) years' duration <br />from the date of the issuance of such bonds in accordance with <br />
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