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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 Industrial Development Revenue Bonds pertaining to <br />Industrial Packaging Corporation facilities and the issuance of <br />the Industrial Development Revenue Bonds pursuant thereto are <br />hereby approved and adopted. <br />Section 2. Said forms of Lease and Trust Indenture to- <br />gether with Industrial Development Revenue 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 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. <br />Section 4. Said Industrial Development Revenue Bonds, <br />payable solely and only from the revenue derived from such Industrial <br />Packaging Corporation facilities, may be issued in amounts not <br />to exceed $300,000.00 for a period of twenty (20) years under the <br />terms of said Lease and Trust Indenture and that such Bonds shall <br />be executed on behalf of the City of South Bend, Indiana, by the <br />Mayor and City Clerk of South Bend, Indiana, and shall be sealed <br />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 approval <br />by the Mayor. <br />Presented by <br />Councilman <br />