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• <br /> on Industrial Drive in the Batesville <br /> Industrial Park, the construction of a <br /> manufacturing plant containing approximately <br /> 34, 500 square feet and the acquisition of <br /> equipment for the Plant. <br /> (b) The initial owner and operator of the <br /> Project will be the Company. The proceeds <br /> of the bonds will be loaned to the Company <br /> to finance the Project, and the Company will <br /> be required to repay the loan, with <br /> interest, at times and in amounts sufficient <br /> to provide for payment of the principal of, <br /> premium, if any, and interest on the bonds, <br /> as due. The Company is in the business of <br /> manufacturing ammunition containers. <br /> Section 2 . That the issuance of the Bonds is hereby <br /> authorized. The Bonas shall be issued in the forms and <br /> denominations, shall be dated, shall be numbered, shall mature <br /> (over a period not to exceed thirty (30) years) , shall bear <br /> interest (at a rate or rates per annum) , and shall be subject to <br /> • redemption prior to maturity all upon the terms and conditions <br /> recommended by the Company and to be set forth in the Trust <br /> Indenture (hereinafter authorized) securing the Bonds. <br /> Section 3 . That the Bonds be sold to a Purchaser (the <br /> Purchaser" ) , for the purchase price recommended by the Company. <br /> Section 4. To prescribe the terms and conditions upon <br /> which the Bonds are to be executed, issued, accepted, held and <br /> secured, the Mayor is hereby authorized and directed to execute <br /> and acknowledge a Trust Indenture by and between the City and a <br /> bank or trust company which will act as Trustee thereunder (the <br /> "Indenture" ) , and the City Clerk is hereby authorized and <br /> directed to execute and acknowledge the Indenture and to affix <br /> the seal of the City thereto, and the Mayor and City Clerk are <br /> hereby authorized and directed to cause the Indenture to be <br /> accepted, executed and acknowledged by the Trustee. The <br /> Indenture is hereby approved in substantially the form submitted <br /> to this meeting, and the Mayor is hereby authorized to confer <br /> with the Trustee, the Company and the Purchaser in order to <br /> complete the Indenture in substantially the form submitted to <br /> this meeting with such changes as shall be approved by such <br /> persons executing the document, their execution to constitute <br /> conclusive evidence of such approval . <br /> Section 5 . That there be, and there is hereby <br /> authorized the execution and delivery of a Loan Agreement by and <br /> between the City and the Company (the "Loan Agreement" ) , and the <br />