Authorizing Revenue Bonds - First Bank & Trust Co of South Bend

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Section 2. Said form of Lease and Trust Indenture is hereby incorporated by reference into this ordinance and said form shall be inserted into the minutes of the Common Council of South Bend, Indiana, and shall be kept on file by the City Clerk of South Bend, Indiana. Section 3. The said Lease and Trust Indenture shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and City Clerk, but such officers shall not execute such Lease and Trust Indenture within twenty (20) days following the adoption of this ordinance as provided by law. Section 4. Economic development revenue bonds payable solely and only from the revenue derived from such First Bank and Trust Company of South Bend, Trustee for Land Trust No. 29 -5083 facilities may be issued in a total sum of Seventy -Five Thousand Dollars ($75,000.00) repayable with interest thereon at the rate of six percent (6 %) per annum in monthly installments over a period of nineteen (19) years starting August 1, 1973 and interest from the date of the issuance of such bonds to August 1, 1973 shall be payable on August 1, 1973 in accordance with the terms of said Lease and Trust Indenture and that such bonds shall be executed 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 approval by the Mayor. 1st & 2nd READING 7 -10 -7 Z, COMMITTEE Of THE WHOLE PUBLIC HEARING 7 -a V/ 7 )�, 3rd READING 7 ,2 y. 1,Z NOT APPROV14 REFERRED PASSED-/ 2 / 7 d Fi i � 'E v. [JUL,) ,5 1972