Approving Revenue Bonds Real America Development Inc

Home Browse Search

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 Industrial Development Revenue Bonds pertaining to Real America Development, Inc. facilities and the issuance of the Industrial Development Revenue Bonds pursuant thereto are hereby approved and adopted, Section 2. Said forms of Lease and Trust Indenture to- gether with Industrial 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 Industrial 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. Section 4. Said Industrial Development Revenue Bonds, payable solely and only from the revenue derived from such Real Development, Inc. facilities, may be issued in amounts not to exceed $1,700,000.00 for a period of twenty (20) years from January 1, 1975 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, and shall be sealed with the corporate seal of said City. Section 5. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approv- ed by the Mayor. Presented by Councilman THORNBURG. 11cGiu, ist READING o�AHL, HaM4AN• PUBLIC HEARING �° - �0 a..e_..w.c_�.✓ CnR =_Y s MURRAY 2nd READING e, - / 0 - i 2 _ NOT APPROVED - REFERRED PASSED FILED IN CLERK'S OFFICE MAY 2 31974 Irene Gammon CITY CLERK, SOUTH BEND, IND.