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Section 1. The form and terms of the Lease and Trust <br />Indenture pertaining to the Gentner Packing Company, Inc. <br />facilities and the issuance of the economic development <br />revenue bonds pursuant thereto are hereby approved. <br />Section 2. Said form of Lease and Trust Indenture is <br />hereby incorporated by reference into this ordinance and said <br />form shall be inserted into the minutes of the Common Council <br />of South Bend, Indiana, and shall be kept on file by the City <br />Clerk of South Bend, Indiana. <br />Section 3. The said Lease and Trust Indenture shall be <br />executed on behalf of the Economic Development Commission of <br />the City of South Bend, Indiana, by the Mayor and City Clerk, <br />but such officers shall not execute such Lease and Trust <br />Indenture within twenty (20) days following the adoption of <br />this ordinance as provided by law. <br />Section 4. Economic development revenue bonds, payable <br />solely and only from the revenue derived from such Gentner <br />Packing Company, Inc. facilities, may be issued in a total sum <br />not to exceed Five Hundred Thousand and no /100 ($500,000.00) <br />Dollars, repayable with interest thereon in monthly installments <br />over a period of twenty (20) years from the date of issuance <br />of such bonds in accordance with the terms of said Lease and <br />Trust Indenture and that such bonds shall be executed on behalf <br />of the Economic Development Commission of the City of South <br />Bend, Indiana, by the Mayor and City Clerk of South Bend, Indiana, <br />and shall be sealed with the corporate seal of said city. <br />Section 5. This ordinance shall be in full force and effect <br />from and after its passage by the Common Council and approval <br />by the Mayor. <br />1st & 2nd READING 7,;e /' 9)-- <br />COMMITTEE OE TR WHOLE <br />PUBLIC NEAR{ g_ <br />y_ 7 <br />NOiR� r y -y <br />REFER <br />PASSER g- -7 <br />