Repeal Ordinance No. 5417-72 Revenue Bonds - Gentner Packing Co Inc

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Section 4. The said Lease, Indenture of Trust, and Economic Development Revenue Bonds shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and City Clerk, but such officers may not execute such Lease, Indenture of Trust, and Economic Development Revenue Bonds within twenty (20) days following the adoption of this ordinance, as provided by law. Section 5. Economic Development Revenue Bonds, payable solely and only from the rental derived from such facilities under the Lease, may be issued in a total sum not to exceed $650,000.00 for a period not to exceed 15 years duration in accordance with the terms of said Lease and Indenture of Trust, and that such Bonds shall be executed on behalf of the City of South Bend, Indiana, by the Mayor and City Clerk and shall be sealed with the corporate seal of said City. The proceeds from the sale of the Bonds shall be used in part for the redemption of the Bonds issued and sold pursuant to Ordinance No. 5417 -72, and the City and the Commission shall do every act necessary to redeem said Bonds. Section 6. This ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor, and the filing of a written waiver of annexation. Member of t e ommon Council Passed March 26, 1973, as amended. -3-