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of the facilities thus acquired or constructed through the issuance of <br />such revenue bonds; and <br />WHEREAS, at or before the time of the issuance of any of <br />said revenue bonds the City will enter into a Lease of the Project <br />dated February 1, 1974 ( "the Lease ") with Marilyn Brown, Rael F. Brown, <br />Shirley B. Waks and Beatrice L. Nevel, and St. Joseph Insurance <br />Agency, Inc., or any of them, doing business as St. Joseph -Brown <br />Building Company ( "the Company "), an Indiana general partnership; and <br />the Company will enter into a Sublease of the Project with St. Joseph <br />Bank and Trust Company dated February 1, 1974 ( "the Sublease "); and <br />WHEREAS, the City has determined that the amount necessary <br />to pay the cost of acquiring and constructing the Project, including <br />necessary expenses incidental thereto, requires that revenue bonds <br />of the City in the principal amount of $995,000 be authorized as <br />hereinafter provided; and <br />WHEREAS, the City has made the necessary arrangements for <br />the issuance and sale of such revenue bonds; and <br />WHEREAS, it is necessary, in connection with the issuance <br />and sale of said bonds, that the City execute and deliver an Indenture <br />of Mortgage and Trust dated as of February 1, 1974 ( "the Indenture ") <br />to Indiana Bank and Trust Company of Fort Wayne, Fort Wayne, Indiana, <br />as Trustee for the bondholders ( "the Trustee "): <br />NOW, THEREFORE, Be It Ordained by the Common Council of <br />the City of South Bend, Indiana, as follows: <br />Section 1. The financing and construction of the Project in <br />accordance with the plans and specifications referred to in the In <br />denture, the leasing of the Project to the Company and the sub- <br />leasing of the Project to St. Joseph Bank and Trust Company by the <br />Company as hereinafter provided are hereby authorized and determined <br />to be in the public interest and in fortherance of the public pur- <br />poses contemplated by the Act and will be of direct benefit to the <br />health and welfare of the City and its citizens. <br />3 <br />