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(iii) in furtherance and anticipation thereof, concurrently with the filing of this Resolution, a <br />proposed ordinance (the "Ordinance ") was filed with the Clerk of the Common Council providing <br />for the financing of the Loan, and it is anticipated that the Ordinance will receive a public hearing <br />and be considered for passage by the Common Council at its meeting on October 14, 2002. <br />SECTION 4. The Common Council hereby expresses its intention to adopt an ordinance <br />pledging a portion of the City's share of COIT revenues to the repayment of the bonds (the "Pledge <br />Ordinance "). The Pledge Ordinance shall set forth the terms of the pledge of COIT revenues and <br />will be adopted by the Common Council following the approval of the issuance of the bonds by the <br />Common Council. <br />SECTION 5. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by the Mayor. <br />PRESENTED <br />NOT APPROVED <br />ADOPTED CI _� 02 EC S . ti`';✓ ^- <br />COMMON COUNCIL OF THE CITY OF SOUTH BEND <br />By: <br />Member of the Common Cou it <br />